tions by, or have specific effects on, such institu-
tions or persons, as determined by the Director. 
‘‘(2) DEFINITIONS.—In this subsection: 
‘‘(A) BSA OFFICER.—The term ‘BSA offi-
cer’ means an employee of a financial institution 
whose primary job responsibility involves com-
pliance with the Bank Secrecy Act, as such term 
is defined under section 5312. 
‘‘(B) FINANCIAL
INSTITUTION.—The term 
‘financial institution’ has the meaning given 
that term under section 5312.’’. 
SEC. 109. FINCEN EXCHANGE. 
Section 310 of title 31, United States Code, as amend-
ed by section 108, is further amended by inserting after sub-
section (e) the following: 
‘‘(f) FINCEN EXCHANGE.— 
‘‘(1) ESTABLISHMENT.—The FinCEN Exchange 
is hereby established within FinCEN, which shall con-
sist of the FinCEN Exchange program of FinCEN in 
existence on the day before the date of enactment of 
this paragraph. 
‘‘(2) PURPOSE.—The FinCEN Exchange shall 
facilitate a voluntary public-private information 
sharing partnership among law enforcement, finan-
cial institutions, and FinCEN to— 
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‘‘(A) effectively and efficiently combat 
money laundering, terrorism financing, orga-
nized crime, and other financial crimes; 
‘‘(B) protect the financial system from il-
licit use; and 
‘‘(C) promote national security. 
‘‘(3) REPORT.— 
‘‘(A) IN GENERAL.—Not later than one year 
after the date of enactment of this subsection, 
and annually thereafter for the next five years, 
the Secretary of the Treasury shall submit to the 
Committee on Financial Services of the House of 
Representatives and the Committee on Banking, 
Housing, and Urban Affairs of the Senate a re-
port containing— 
‘‘(i) an analysis of the efforts under-
taken by the FinCEN Exchange and the re-
sults of such efforts; 
‘‘(ii) an analysis of the extent and ef-
fectiveness of the FinCEN Exchange, includ-
ing any benefits realized by law enforce-
ment from partnership with financial insti-
tutions; and 
‘‘(iii) any legislative, administrative, 
or other recommendations the Secretary 
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may have to strengthen FinCEN Exchange 
efforts. 
‘‘(B) CLASSIFIED
ANNEX.—Each report 
under subparagraph (A) may include a classified 
annex. 
‘‘(4) INFORMATION
SHARING
REQUIREMENT.— 
Information shared pursuant to this subsection shall 
be shared in compliance with all other applicable 
Federal laws and regulations. 
‘‘(5) RULE OF CONSTRUCTION.—Nothing under 
this subsection may be construed to create new infor-
mation sharing authorities related to the Bank Se-
crecy Act (as such term is defined under section 5312 
of title 31, United States Code). 
‘‘(6) FINANCIAL INSTITUTION DEFINED.—In this 
subsection, the term ‘financial institution’ has the 
meaning given that term under section 5312.’’. 
SEC. 110. STUDY AND STRATEGY ON TRADE-BASED MONEY 
LAUNDERING. 
(a) STUDY.—The Secretary of the Treasury shall carry 
out a study, in consultation with appropriate private sector 
stakeholders and Federal departments and agencies, on 
trade-based money laundering. 
(b) REPORT.—Not later than the end of the 1-year pe-
riod beginning on the date of the enactment of this Act, 
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the Secretary shall issue a report to the Congress con-
taining— 
(1) all findings and determinations made in car-
rying out the study required under subsection (a); 
and 
(2) proposed strategies to combat trade-based 
money laundering. 
(c) CLASSIFIED ANNEX.—The report required under 
this section may include a classified annex. 
(d) CONTRACTING AUTHORITY.—The Secretary may 
contract with a private third-party to carry out the study 
required under this section. 
SEC. 111. STUDY AND STRATEGY ON DE-RISKING. 
(a) REVIEW.—The Secretary of the Treasury, in con-
sultation with appropriate private sector stakeholders, ex-
aminers, and the Federal functional regulators (as defined 
under section 103) and other relevant stakeholders, shall un-
dertake a formal review of— 
(1) any adverse consequences of financial institu-
tions de-risking entire categories of relationships, in-
cluding charities, embassy accounts, money services 
businesses (as defined under section 1010.100(ff) of 
title 31, Code of Federal Regulations) and their 
agents, countries, international and domestic regions, 
and respondent banks; 
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(2) the reasons why financial institutions are en-
gaging in de-risking; 
(3) the association with and effects of de-risking 
on money laundering and financial crime actors and 
activities; 
(4) the most appropriate ways to promote finan-
cial inclusion, particularly with respect to developing 
countries, while maintaining compliance with the 
Bank Secrecy Act, including an assessment of policy 
options to— 
(A) more effectively tailor Federal actions 
and penalties to the size of foreign financial in-
stitutions and any capacity limitations of for-
eign governments; and 
(B) reduce compliance costs that may lead 
to the adverse consequences described in para-
graph (1); 
(5) formal and informal feedback provided by ex-
aminers that may have led to de-risking; and 
(6) the relationship between resources dedicated 
to compliance and overall sophistication of compli-
ance efforts at entities that may be experiencing de- 
risking versus those that have not experienced de-risk-
ing. 
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