To combat international money laundering and protect the United States financial system, and for other purposes.
Immunizes from liability financial institutions and their staff making certain disclosures of possible legal violations to a government agency. Prohibits them from notifying anyone involved that the transaction has been reported.
Sets penalties for violation of geographic targeting orders and record-keeping requirements.
Amends: (1) the Federal Deposit Insurance Act to authorize an insured depository institution to disclose certain information concerning the possible involvement of an institution-affiliated party in potentially unlawful activity; and (2) the Annunzio-Wylie Anti-Money Laundering Act to make certain provisions of the Bank Secrecy Act applicable to it.
Expresses the sense of Congress that: (1) in international deliberations, the U.S. Government should emphasize an approach that addresses governmental corruption; and (2) the United States should continue to actively and publicly support the objectives of the Financial Action Task Force on Money Laundering with regard to combating international money laundering.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E397-398)
Referred to the House Committee on Financial Services.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
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