To facilitate better information sharing to assist in the fight against the funding of terrorist activities, and for other purposes.
Anti-terrorism Information Sharing Is Strength Act
This bill amends the USA PATRIOT Act to allow two or more financial institutions and any association of financial institutions, upon notice provided to the Department of the Treasury, to share information with one another regarding individuals, entities, organizations, and countries suspected of the unlawful activity the proceeds of which form the basis of a money laundering offense.
A financial institution or association that transmits, receives, or shares such information to identify and report this activity shall not be liable to any person for such disclosure or for any failure to provide notice of it to the subject, or any other person identified in the disclosure, except where the transmission, receipt, or sharing violates the Act or regulations promulgated under it.
The bill expresses the sense of Congress concerning the need for federal law enforcement agencies and regulators, as well as financial institutions, to share information about terrorist activities, money laundering activities, and unlawful activities to the fullest extent possible and in a timely fashion.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Mr. Fitzpatrick moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H4586-4587; text of measure as introduced: CRH4786)
DEBATE - The House proceeded with forty minutes of debate on H.R. 5606.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H4624)
Failed of passage/not agreed to in House: On motion to suspend the rules and pass the bill Failed by the Yeas and Nays: (2/3 required): 229 - 177 (Roll no. 403).
Roll Call #403 (House)On motion to suspend the rules and pass the bill Failed by the Yeas and Nays: (2/3 required): 229 - 177 (Roll no. 403).
Roll Call #403 (House)checking server…
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