I 
112TH CONGRESS 
2D SESSION 
H. R. 3880 
To require the imposition of sanctions on foreign financial institutions that 
are members of an entity that provides services relating to secure commu-
nications, electronic funds transfers, or cable transfers to the Central 
Bank of Iran or sanctioned financial institutions. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 2, 2012 
Ms. ROS-LEHTINEN (for herself, Mr. ROYCE, and Mr. CHABOT) introduced 
the following bill; which was referred to the Committee on Foreign Af-
fairs, and in addition to the Committee on Financial Services, for a pe-
riod to be subsequently determined by the Speaker, in each case for con-
sideration of such provisions as fall within the jurisdiction of the com-
mittee concerned 
A BILL 
To require the imposition of sanctions on foreign financial 
institutions that are members of an entity that provides 
services relating to secure communications, electronic 
funds transfers, or cable transfers to the Central Bank 
of Iran or sanctioned financial institutions. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. IMPOSITION OF SANCTIONS ON FOREIGN FI-
NANCIAL INSTITUTIONS THAT ARE MEMBERS 
OF ENTITIES THAT PROVIDE CERTAIN SERV-
ICES TO THE CENTRAL BANK OF IRAN OR 
SANCTIONED FINANCIAL INSTITUTIONS. 
(a) IN GENERAL.—Section 104(c) of the Comprehen-
sive Iran Sanctions, Accountability, and Divestment Act 
of 2010 (22 U.S.C. 8513(c)) is amended— 
(1) in paragraph (2)— 
(A) in subparagraph (D), by striking ‘‘; 
or’’ and inserting a semicolon; 
(B) in subparagraph (E)(ii)(II), by strik-
ing the period and inserting ‘‘; or’’; and 
(C) by adding at the end the following: 
‘‘(F) except as provided in paragraph (4), 
employs a member of the board of directors of 
an entity that— 
‘‘(i) provides services relating to se-
cure 
communications, 
electronic 
funds 
transfers, or cable transfers; and 
‘‘(ii) provides such services to, or en-
ables or facilitates access to such services 
for, the Central Bank of Iran or a finan-
cial institution described in subparagraph 
(E)(ii).’’; and 
(2) by adding at the end the following: 
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‘‘(4) EXCEPTIONS RELATING TO PROVISION OF 
SECURE
COMMUNICATIONS, 
ELECTRONIC
FUNDS 
TRANSFERS, OR CABLE TRANSFERS.—The Secretary 
of the Treasury may not prohibit, or impose strict 
conditions on, the opening or maintaining in the 
United States of a correspondent account or a pay-
able-through account by a foreign financial institu-
tion for employing a member of the board of direc-
tors of an entity that provides services described in 
paragraph (3)(F) to, or enables or facilitates access 
to such services for, the Central Bank of Iran or a 
financial 
institution 
described 
in 
paragraph 
(3)(E)(ii) if such services relate to transactions for 
the purchase of petroleum or petroleum products 
from Iran that occur before the date on which sanc-
tions apply with respect to financial transactions for 
the purchase of petroleum or petroleum products 
under section 1245(d)(4)(C) of the National Defense 
Authorization Act for Fiscal Year 2012 (Public Law 
112–81).’’. 
(b) REGULATIONS.—Not later than 90 days after the 
date of the enactment of this Act, the Secretary of the 
Treasury shall revise the regulations prescribed under sec-
tion 104(c) of the Comprehensive Iran Sanctions, Ac-
countability, and Divestment Act of 2010 (22 U.S.C. 
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8513(c)) to carry out the amendments made by subsection 
(a). 
Æ 
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