Money Laundering Prevention and Payment System Protection Act of 1990

[AI summary unavailable — showing source text] Money Laundering Prevention and Payment System Protection Act of 1990 - Expresses the sense of the Congress that the States should: (1) establish a uniform regulatory scheme for non-depository institutions engaged in money transactions (such as check cashing services, money orders, and travelers checks; and (2) develop a model statute to regulate such services (including licensing standards and civil and criminal penalties for noncompliance). Requires the Secretary of the Treasury to report to the Congress the results of a study of the progress made by the States in developing and enacting such a model statute.…