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) intro-
duced the following bill; which was referred to the Committee on Finan-
cial Services 
A BILL 
To facilitate better information sharing to assist in the fight 
against the funding of terrorist activities, and for other 
purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Anti-terrorism Infor-
mation Sharing Is Strength Act’’. 
SEC. 2. INFORMATION SHARING. 
(a) IN GENERAL.—Section 314 of the USA PA-
TRIOT Act (31 U.S.C. 5311 note) is amended— 
(1) in subsection (b)— 
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(A) by striking ‘‘terrorist or money laun-
dering activities’’ and inserting ‘‘terrorist acts, 
money laundering activities, or a specified un-
lawful activity (as defined under section 
1956(c)(7) of title 18, United States Code)’’; 
and 
(B) by striking ‘‘activities that may involve 
terrorist acts or money laundering activities’’ 
and inserting ‘‘activities that may involve ter-
rorist acts, money laundering activities, or a 
specified unlawful activity’’; and 
(2) in subsection (c), by inserting ‘‘or a speci-
fied unlawful activity (as defined under section 
1956(c)(7) of title 18, United States Code)’’ after 
‘‘terrorist acts or money laundering activities’’. 
(b) UPDATE TO REGULATIONS.—Section 314(a) of 
the USA PATRIOT Act (31 U.S.C. 5311 note) is amend-
ed by striking ‘‘or money laundering activities’’ each place 
such term appears and inserting ‘‘, money laundering ac-
tivities, or a specified unlawful activity (as defined under 
section 1956(c)(7) of title 18, United States Code)’’. 
(c) SENSE OF CONGRESS.—Section 314 of the USA 
PATRIOT Act (31 U.S.C. 5311 note) is amended by add-
ing at the end the following: 
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‘‘(e) SENSE OF CONGRESS.—It is the sense of the 
Congress that, in furtherance of efforts to stop the financ-
ing of terror and other forms of illicit financing through 
increased sharing of information, and consistent with the 
need to prevent inappropriate dissemination of such infor-
mation— 
‘‘(1) Federal law enforcement agencies and reg-
ulators should share information about terrorist ac-
tivities, money laundering activities, and other speci-
fied unlawful activities (as defined under section 
1956(c)(7) of title 18, United States Code) to the 
fullest extent possible and in a timely fashion; and 
‘‘(2) financial institutions, including nonbank fi-
nancial institutions, should share information about 
such acts and activities with each other to the fullest 
extent possible and in a timely fashion.’’. 
SEC. 3. DISCLOSURE LIABILITY. 
Section 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, 
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employee, or agent of such institution to 
demonstrate to any person, as used in such 
subparagraph, that a disclosure referenced 
in such subparagraph is made in good 
faith.’’. 
SEC. 4. REPORT TO CONGRESS. 
(a) IN GENERAL.—Not later than the end of the 120- 
day period beginning on the date of the enactment of this 
Act, the Secretary of the Treasury shall report to the 
Committee on Financial Services of the House of Rep-
resentatives and the Committee on Banking, Housing, and 
Urban Affairs of the Senate regarding— 
(1) the Department of the Treasury’s assess-
ment of the risks and benefits of allowing sharing of 
information, consistent with appropriate privacy pro-
tections— 
(A) between United States financial insti-
tutions and foreign financial institutions; 
(B) between United States financial insti-
tutions and their foreign subsidiaries; and 
(C) between United States subsidiaries of 
foreign financial institutions and their parent 
financial institutions; and 
(2) whether a financial institution defined 
under section 5312(a)(2) of title 31, United States 
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