questor wishes to be considered for exemption from 
disclosure under such section 552, the requestor 
should clearly identify such portions of the request 
and the reasons why such information should be ex-
empt from disclosure. 
‘‘(3) NOTICE
TO
REQUESTOR.—A requestor 
claiming an exemption from disclosure shall be noti-
fied by the Secretary, at least 10 days before the 
ruling is issued, of a decision not to exempt any of 
such information from disclosure so that the under-
lying request for a ruling can be withdrawn if the 
requestor so chooses. 
‘‘(g) INQUIRY FEE.— 
‘‘(1) IN GENERAL.—The Secretary may charge 
a fee for each inquiry made under this section in an 
amount sufficient, in the aggregate, to pay for the 
cost of carrying out this section and such amounts 
may be used, without further appropriation, to carry 
out this section. Such system shall provide a lower 
fee for small business concerns compared to the fee 
charged to other persons. 
‘‘(2) NOTICE AND COMMENT.—If the Secretary 
decides to charge the fee described under paragraph 
(1)— 
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‘‘(A) the Secretary shall establish a system 
for charging such fee, publish a description of 
such system in the Federal Register, and solicit 
comments from the public for a period of 60 
days after publication; and 
‘‘(B) publish a final description of the fee 
system and implement such fee system not later 
than 30 days after the end of such public com-
ment period. 
‘‘(h) REPORT TO CONGRESS.—The Secretary shall, in 
a semi-annual report, submit information regarding the 
number of requests for an administrative ruling received 
under this section, the subject of each request, the number 
of nonconforming requests treated as withdrawn pursuant 
to subsection (b)(3), and the time needed to respond to 
each request. 
‘‘(i) DEFINITIONS.—For purposes of this section: 
‘‘(1) BANK SECRECY ACT.—The term ‘Bank Se-
crecy Act’ means— 
‘‘(A) this subchapter; 
‘‘(B) section 21 of the Federal Deposit In-
surance Act; 
‘‘(C) chapter 2 of title I of Public Law 91– 
508; and 
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‘‘(D) section 314 of the USA PATRIOT 
Act. 
‘‘(2) SMALL
BUSINESS
CONCERN.—The term 
‘small business concern’ has the meaning given such 
term under section 3 of the Small Business Act.’’. 
(b) CLERICAL AMENDMENT.—The table of contents 
in chapter 53 of title 31, United States Code, is amended 
by inserting after the item relating to section 5332 the 
following: 
‘‘5333. Administrative rulings.’’. 
SEC. 6. QUALITATIVE FEEDBACK MECHANISM. 
Within 180 days after the date of enactment of this 
Act, the Secretary of the Treasury shall, after providing 
for public notice and comment, establish a mechanism 
to— 
(1) communicate annual anti-money laundering 
and countering terrorism financing priorities to fi-
nancial institutions, other Federal financial regu-
lators, and such other Federal departments and 
agencies as the Secretary determines appropriate; 
and 
(2) provide to financial institutions qualitative 
feedback on information shared by financial institu-
tions with the Department of Treasury, including 
currency transaction reports and suspicious activity 
reports. 
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SEC. 7. REPORT. 
Within 1 year of the date of the enactment of this 
Act, the Secretary of the Treasury, in consultation with 
the Federal banking agencies (as such term is defined 
under Section 3 of the Federal Deposit Insurance Act) 
and other agencies, as applicable, shall submit a report 
to the Committee on Financial Services of the House of 
Representatives and the Committee on Banking, Housing, 
and Urban Affairs of the Senate on— 
(1) the potential for artificial intelligence, ma-
chine learning, and other technologies to help detect 
and prevent money laundering and terrorist financ-
ing; 
(2) the costs and benefits associated with the 
establishment, by the Federal Government or by the 
Federal Government in partnership with the private 
sector, of a centralized database to help financial in-
stitutions detect and prevent money laundering and 
terrorist financing, including the impact of such a 
database on the security and privacy of financial in-
formation and the ability of technology or changes in 
law to ensure the security and privacy of such infor-
mation; 
(3) actions that can be taken, administratively 
or through the enactment of legislation, to stream-
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line and improve reporting requirements under the 
United States anti-money laundering regime; 
(4) how to further include law enforcement 
within the United States anti-money laundering re-
gime and establish methods for law enforcement to 
provide feedback to institutions on the information 
they submit; 
(5) the utility of a single filing threshold for 
suspicious activity reports as an alternative to vary-
ing thresholds, as currently in effect; and 
(6) the mechanism described in section 6. 
SEC. 8. DEFINITIONS. 
For purposes of this Act: 
(1) CURRENCY
TRANSACTION
REPORT.—The 
term ‘‘currency transaction report’’ means a report 
described under section 5313, 5316, or 5331 of title 
31, United States Code. 
(2) FINANCIAL
INSTITUTION.—The term ‘‘fi-
nancial institution’’ has the meaning given that term 
under section 5312 of title 31, United States Code. 
(3) SUSPICIOUS ACTIVITY REPORT.—The term 
‘‘suspicious activity report’’ means a report de-
scribed under section 5318(g) of title 31, United 
States Code. 
Æ 
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