the Bureau of Labor Statistics or choose to not make such 
adjustment. 
SEC. 4. IMPROVED INFORMATION SHARING. 
(a) DISCLOSURE TO FOREIGN BRANCHES OR AFFILI-
ATES.—Within 180 days after the date of enactment of 
this Act, the Secretary of the Treasury shall, by regula-
tion, clearly authorize domestic financial institutions to 
share suspicious activity reports with a foreign branch or 
affiliate of the domestic financial institutions, if such 
branch or affiliate is located in a country that— 
(1) is a member of the Financial Action Task 
Force (‘‘FATF’’) or a FATF-style regional body; 
and 
(2) has adequate privacy protections and data 
security measures in effect to prevent the unauthor-
ized disclosure of such reports. 
(b) LIABILITY.—A domestic financial institution that 
transmits, receives, or shares suspicious activity reports 
with a foreign branch or affiliate of the domestic financial 
institution in accordance with the regulation promulgated 
pursuant to subsection (a) shall not be liable to any person 
under any law or regulation of the United States, any con-
stitution, law, or regulation of any State or political sub-
division thereof, or under any contract or other legally en-
forceable agreement (including any arbitration agree-
VerDate Sep 11 2014 
20:23 Nov 20, 2017
Jkt 079200
PO 00000
Frm 00008
Fmt 6652
Sfmt 6201
E:\BILLS\H4373.IH
H4373
daltland on DSK30NT082PROD with BILLS
ment), for sharing such reports, except where such trans-
mission, receipt, or sharing violates this section or regula-
tions promulgated pursuant to this section. 
(c) DISCLOSURE TO GOVERNMENT AGENCIES.—Sec-
tion 5318(g)(3)(B) of title 31, United States Code, is 
amended— 
(1) in clause (i), by striking ‘‘or’’ at the end; 
(2) in clause (ii), by striking the period and in-
serting ‘‘; or’’; and 
(3) by adding at the end the following: 
‘‘(iii) any duty or requirement of a fi-
nancial institution or any director, officer, 
employee, or agent of such institution to 
demonstrate that a disclosure described in 
subparagraph (A) is made in good faith.’’. 
(d) COOPERATION
AMONG
FINANCIAL
INSTITU-
TIONS.—Section 314 of the USA PATRIOT Act (31 
U.S.C. 5311 note) is amended— 
(1) in subsection (b)— 
(A) by striking ‘‘suspected of possible ter-
rorist or money laundering activities’’ and in-
serting ‘‘for the purpose of identifying and, as 
appropriate, reporting possible terrorist or 
money laundering activities, or a specified un-
lawful activity (as defined under section 
VerDate Sep 11 2014 
20:23 Nov 20, 2017
Jkt 079200
PO 00000
Frm 00009
Fmt 6652
Sfmt 6201
E:\BILLS\H4373.IH
H4373
daltland on DSK30NT082PROD with BILLS
1956(c)(7) of title 18, United States Code)’’; 
and 
(B) by striking ‘‘or money laundering ac-
tivities shall’’ and inserting ‘‘, money laun-
dering activities, or a specified unlawful activity 
(as defined under section 1956(c)(7) of title 18, 
United States Code) shall’’; and 
(2) in subsection (c), by striking ‘‘engaged in or 
suspected of engaging in terrorist acts or money 
laundering activities’’ and inserting ‘‘for the purpose 
of identifying and, as appropriate, reporting possible 
terrorist acts or money laundering activities, or a 
specified unlawful activity (as defined under section 
1956(c)(7) of title 18, United States Code),’’. 
SEC. 5. ADMINISTRATIVE RULINGS. 
(a) IN GENERAL.—Subchapter II of chapter 53 of 
title 31, United States Code, is amended by adding at the 
end the following: 
‘‘§ 5333. Administrative rulings 
‘‘(a) ESTABLISHMENT OF PROCEDURES.— 
‘‘(1) IN GENERAL.—Not later than 1 year after 
the date of enactment of this section, the Secretary 
of the Treasury, acting through the Financial 
Crimes Enforcement Network, shall establish a pro-
cedure in accordance with the requirements of this 
VerDate Sep 11 2014 
20:23 Nov 20, 2017
Jkt 079200
PO 00000
Frm 00010
Fmt 6652
Sfmt 6201
E:\BILLS\H4373.IH
H4373
daltland on DSK30NT082PROD with BILLS
section to provide written rulings in response to in-
quiries concerning the conformance of specific con-
duct with the Bank Secrecy Act. 
‘‘(2) CONSULTATION
WITH
OTHER
AGENCIES 
AND
THE
PUBLIC.—In establishing the procedure 
under paragraph (1), the Secretary shall consult 
with other financial regulators and such other Fed-
eral departments and agencies as the Secretary de-
termines appropriate, and obtain the views of all in-
terested persons through a public notice and com-
ment period. 
‘‘(b) REQUESTS.— 
‘‘(1) IN GENERAL.—A person making a request 
for a ruling under this section— 
‘‘(A) shall make such request in writing; 
‘‘(B) shall include in such request— 
‘‘(i) a complete description of the situ-
ation for which the ruling is requested; 
‘‘(ii) a complete statement of all mate-
rial facts related to the subject transaction; 
‘‘(iii) a concise and unambiguous 
question to be answered; 
‘‘(iv) a statement certifying, to the 
best of the requestor’s knowledge and be-
lief, that the question to be answered is 
VerDate Sep 11 2014 
20:23 Nov 20, 2017
Jkt 079200
PO 00000
Frm 00011
Fmt 6652
Sfmt 6201
E:\BILLS\H4373.IH
H4373
daltland on DSK30NT082PROD with BILLS
not applicable to any ongoing state or Fed-
eral investigation, litigation, grand jury 
proceeding, or proceeding before any other 
governmental body involving either the re-
questor, any other party to the subject 
transaction, or any other party with whom 
the requestor has an agency relationship; 
‘‘(v) a statement identifying any infor-
mation in the request that the requestor 
considers to be exempt from disclosure 
under section 552 of title 5, United States 
Code (commonly referred to as the ‘Free-
dom of Information Act’), and the reason 
therefor; 
‘‘(vi) if the subject situation is hypo-
thetical, a statement justifying why the 
particular situation described warrants the 
issuance of a ruling; and 
‘‘(vii) the signature of— 
‘‘(I) the person making the re-
quest; 
‘‘(II) if an agent makes the re-
quest, the agent, accompanied by a 
statement certifying the authority 
under which the request is made; or 
VerDate Sep 11 2014 
20:23 Nov 20, 2017
Jkt 079200
PO 00000
Frm 00012
Fmt 6652
Sfmt 6201
E:\BILLS\H4373.IH
H4373
daltland on DSK30NT082PROD with BILLS