; and (B) a report of all instances in which the payment stablecoin issuer failed to comply with any requirement under section 6(f) or 7(e). (2) Filing with the Board At the time of disclosure of the summary description under paragraph (1), the chief financial officer of a payment stablecoin issuer shall also file the summary description with the Board under penalty of perjury. (3) Publication by the Board Not later than 10 business days after receiving a filing under paragraph (2), the Board shall make the filing available on a website of the Board. (4) Verification of disclosures The Comptroller or State bank supervisor shall, as part of the regular examination of the payment stablecoin issuer, verify the composition of the assets and the accuracy of the summary description under paragraph (1). (e) Disclosures to customers A payment stablecoin issuer shall clearly disclose to customers that a payment stablecoin is not guaranteed by the United States Government and is not subject to deposit or share insurance by the Federal Deposit Insurance Corporation or the National Credit Union Administration. (f) Misrepresentation of disclosures A payment stablecoin issuer that misrepresents a disclosure under subsection (d) or (e) shall be subject to the penalty under section 18(a)(4) of the Federal Deposit Insurance Act ( 12 U.S.C. 1828(a)(4) ) or section 709 of title 18, United States Code, as applicable. (g) Redemptions Not later than 1 business day after the receipt of a redemption request of a customer, a payment stablecoin issuer shall redeem an outstanding payment stablecoin of that payment stablecoin issuer at par in legal tender, as defined in section 5103 of title 31, United States Code. (h) Limitation on activities As determined by the Comptroller or State bank supervisor, in consultation with the Board, a payment stablecoin issuer may conduct only the following activities: (1) Management of required payment stablecoin reserves under sections 6(f) and 7(e). (2) Custodial services. (3) Settlement and clearing.