I 

114TH CONGRESS 

2D SESSION H. R. 5606 

To facilitate better information sharing to assist in the fight against the 

funding of terrorist activities, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 28, 2016 

Mr. PITTENGER (for himself and Ms. MAXINE WATERS of California) introduced the following bill; which was referred to the Committee on Financial Services 

A BILL 

To facilitate better information sharing to assist in the fight 

against the funding of terrorist activities, and for other 

purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Anti-terrorism Infor5 mation Sharing Is Strength Act’’. 

6 SEC. 2. INFORMATION SHARING. 

7 (a) IN GENERAL.—Section 314 of the USA PA8 TRIOT Act (31 U.S.C. 5311 note) is amended— 

9 (1) in subsection (b)— 


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1 (A) by striking ‘‘terrorist or money laun2 dering activities’’ and inserting ‘‘terrorist acts, 

3 money laundering activities, or a specified un4 lawful activity (as defined under section 

5 1956(c)(7) of title 18, United States Code)’’; 

6 and 

7 (B) by striking ‘‘activities that may involve 

8 terrorist acts or money laundering activities’’ 

9 and inserting ‘‘activities that may involve ter10 rorist acts, money laundering activities, or a 

11 specified unlawful activity’’; and 

12 (2) in subsection (c), by inserting ‘‘or a speci13 fied unlawful activity (as defined under section 

14 1956(c)(7) of title 18, United States Code)’’ after 

15 ‘‘terrorist acts or money laundering activities’’. 

16 (b) UPDATE TO REGULATIONS.—Section 314(a) of 

17 the USA PATRIOT Act (31 U.S.C. 5311 note) is amend18 ed by striking ‘‘or money laundering activities’’ each place 

19 such term appears and inserting ‘‘, money laundering ac20 tivities, or a specified unlawful activity (as defined under 

21 section 1956(c)(7) of title 18, United States Code)’’. 

22 (c) SENSE OF CONGRESS.—Section 314 of the USA 

23 PATRIOT Act (31 U.S.C. 5311 note) is amended by add24 ing at the end the following: 


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1 ‘‘(e) SENSE OF CONGRESS.—It is the sense of the 

2 Congress that, in furtherance of efforts to stop the financ3 ing of terror and other forms of illicit financing through 

4 increased sharing of information, and consistent with the 

5 need to prevent inappropriate dissemination of such infor6 mation— 

7 ‘‘(1) Federal law enforcement agencies and reg8 ulators should share information about terrorist ac9 tivities, money laundering activities, and other speci10 fied unlawful activities (as defined under section 

11 1956(c)(7) of title 18, United States Code) to the 

12 fullest extent possible and in a timely fashion; and 

13 ‘‘(2) financial institutions, including nonbank fi14 nancial institutions, should share information about 

15 such acts and activities with each other to the fullest 

16 extent possible and in a timely fashion.’’. 

17 SEC. 3. DISCLOSURE LIABILITY. 

18 Section 5318(g)(3)(B) of title 31, United States 

19 Code, is amended— 

20 (1) in clause (i), by striking ‘‘or’’ at the end; 

21 (2) in clause (ii), by striking the period and in22 serting ‘‘; or’’; and 

23 (3) by adding at the end the following: 

24 ‘‘(iii) any duty or requirement of a fi25 nancial institution or any director, officer, 


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1 employee, or agent of such institution to 

2 demonstrate to any person, as used in such 

3 subparagraph, that a disclosure referenced 

4 in such subparagraph is made in good 

5 faith.’’. 

6 SEC. 4. REPORT TO CONGRESS. 

7 (a) IN GENERAL.—Not later than the end of the 120- 

8 day period beginning on the date of the enactment of this 

9 Act, the Secretary of the Treasury shall report to the 

10 Committee on Financial Services of the House of Rep11 resentatives and the Committee on Banking, Housing, and 

12 Urban Affairs of the Senate regarding— 

13 (1) the Department of the Treasury’s assess14 ment of the risks and benefits of allowing sharing of 

15 information, consistent with appropriate privacy pro16 tections— 

17 (A) between United States financial insti18 tutions and foreign financial institutions; 

19 (B) between United States financial insti20 tutions and their foreign subsidiaries; and 

21 (C) between United States subsidiaries of 

22 foreign financial institutions and their parent 

23 financial institutions; and 

24 (2) whether a financial institution defined 

25 under section 5312(a)(2) of title 31, United States 


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1 Code, that is not required under Treasury regula2 tions on the date of the enactment of this Act to 

3 maintain an anti-money laundering program, should 

4 be authorized to appropriately share information 

5 pursuant to subsection (b) of section 314 of the 

6 USA PATRIOT Act, if— 

7 (A) the financial institution voluntarily es8 tablishes and maintains such an anti-money 

9 laundering program; 

10 (B) such program is subject to examina11 tion, and has been examined, by the appropriate 

12 regulator; and 

13 (C) the Secretary determines such program 

14 to be adequately operating. 

15 (b) SEPARATE PRESENTATION OF CLASSIFIED MA16 TERIAL.—Any part of the report described under sub17 section (a) that involves information which is properly 

18 classified under criteria established by the President shall 

19 be submitted to the committees described under subsection 

20 (a) separately in a classified annex and, if requested by 

21 the chairman or ranking Member of one of such commit22 tees, as a briefing at an appropriate level of security. 

23 SEC. 5. RULEMAKING. 

24 Not later than the end of the 180-day period begin25 ning on the date of the enactment of this Act, the SecVerDate Sep 11 2014 23:09 Jun 29, 2016 Jkt 059200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H5606.IH H5606

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1 retary of the Treasury shall issue regulations to be con2 sistent with the amendments made by this Act. 

Æ 


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