H. R. 6395—1196 
the financial system from threats, including money laun-
dering and the financing of terrorism and proliferation, 
to national security posed by various forms of financial 
crime; 
(B) to ensure that those provisions will continue to 
require certain reports or records that are highly useful 
in countering financial crime; and 
(C) to identify those regulations and guidance that— 
(i) may be outdated, redundant, or otherwise do 
not promote a risk-based anti-money laundering 
compliance and countering the financing of terrorism 
regime for financial institutions; or 
(ii) do not conform with the commitments of the 
United States to meet international standards to com-
bat money laundering, financing of terrorism, serious 
tax fraud, or other financial crimes; and 
(2) make appropriate changes to the regulations and guid-
ance described in paragraph (1) to improve, as appropriate, 
the efficiency of those provisions. 
(b) PUBLIC COMMENT.—The Secretary shall solicit public com-
ment as part of the review required under subsection (a). 
(c) REPORT.—Not later than 1 year after the date of enactment 
of this Act, the Secretary, in consultation with the Financial Institu-
tions Examination Council, the Federal functional regulators, the 
Attorney General, Federal law enforcement agencies, the Director 
of National Intelligence, the Secretary of Homeland Security, and 
the Commissioner of Internal Revenue, shall submit to Congress 
a report that contains all findings and determinations made in 
carrying out the review required under subsection (a), including 
administrative or legislative recommendations. 
TITLE LXIII—IMPROVING ANTI-MONEY 
LAUNDERING AND COUNTERING THE 
FINANCING OF TERRORISM COMMU-
NICATION, OVERSIGHT, AND PROC-
ESSES 
Sec. 6301. Improved interagency coordination and consultation. 
Sec. 6302. Subcommittee on Information Security and Confidentiality. 
Sec. 6303. Establishment of Bank Secrecy Act Information Security Officers. 
Sec. 6304. FinCEN analytical hub. 
Sec. 6305. Assessment of Bank Secrecy Act no-action letters. 
Sec. 6306. Cooperation with law enforcement. 
Sec. 6307. Training for examiners on anti-money laundering and countering the fi-
nancing of terrorism. 
Sec. 6308. Obtaining foreign bank records from banks with United States cor-
respondent accounts. 
Sec. 6309. Additional damages for repeat Bank Secrecy Act violators. 
Sec. 6310. Certain violators barred from serving on boards of United States finan-
cial institutions. 
Sec. 6311. Department of Justice report on deferred and non-prosecution agree-
ments. 
Sec. 6312. Return of profits and bonuses. 
Sec. 6313. Prohibition on concealment of the source of assets in monetary trans-
actions. 
Sec. 6314. Updating whistleblower incentives and protection.
H. R. 6395—1197 
SEC. 6301. IMPROVED INTERAGENCY COORDINATION AND CONSULTA-
TION. 
Section 5318 of title 31, United States Code, as amended by 
sections 6209 and 6213(a) of this division, is amended by adding 
at the end the following: 
‘‘(q) INTERAGENCY COORDINATION AND CONSULTATION.— 
‘‘(1) IN
GENERAL.—The Secretary of the Treasury shall, 
as appropriate, invite an appropriate State bank supervisor 
and an appropriate State credit union supervisor to participate 
in the interagency consultation and coordination with the Fed-
eral depository institution regulators regarding the develop-
ment or modification of any rule or regulation carrying out 
this subchapter. 
‘‘(2) RULES OF CONSTRUCTION.—Nothing in this subsection 
may be construed to— 
‘‘(A) affect, modify, or limit the discretion of the Sec-
retary of the Treasury with respect to the methods or 
forms of interagency consultation and coordination; or 
‘‘(B) require the Secretary of the Treasury or a Federal 
depository institution regulator to coordinate or consult 
with an appropriate State bank supervisor or to invite 
such supervisor to participate in interagency consultation 
and coordination with respect to a matter, including a 
rule or regulation, specifically affecting only Federal deposi-
tory institutions or Federal credit unions. 
‘‘(3) DEFINITIONS.—In this subsection: 
‘‘(A) APPROPRIATE STATE BANK SUPERVISOR.—The term 
‘appropriate State bank supervisor’ means the Chairman 
or members of the State Liaison Committee of the Financial 
Institutions Examination Council. 
‘‘(B) APPROPRIATE STATE CREDIT UNION SUPERVISOR.— 
The term ‘appropriate State credit union supervisor’ means 
the Chairman or members of the State Liaison Committee 
of the Financial Institutions Examination Council. 
‘‘(C) FEDERAL CREDIT UNION.—The term ‘Federal credit 
union’ has the meaning given the term in section 101 
of the Federal Credit Union Act (12 U.S.C. 1752). 
‘‘(D) FEDERAL
DEPOSITORY
INSTITUTION.—The term 
‘Federal depository institution’ has the meaning given the 
term in section 3 of the Federal Deposit Insurance Act 
(12 U.S.C. 1813). 
‘‘(E) FEDERAL DEPOSITORY INSTITUTION REGULATORS.— 
The term ‘Federal depository institution regulator’ means 
a member of the Financial Institutions Examination 
Council to which is delegated any authority of the Secretary 
under subsection (a)(1).’’. 
SEC. 6302. SUBCOMMITTEE ON INFORMATION SECURITY AND CON-
FIDENTIALITY. 
Section 1564 of the Annunzio-Wylie Anti-Money Laundering 
Act (31 U.S.C. 5311 note), as amended by section 6207 of this 
division, is amended by adding at the end the following: 
‘‘(e) SUBCOMMITTEE ON INFORMATION SECURITY AND CONFIDEN-
TIALITY.— 
‘‘(1) IN GENERAL.—There shall be within the Bank Secrecy 
Act Advisory Group a subcommittee to be known as the Sub-
committee on Information Security and Confidentiality (in this
H. R. 6395—1198 
subsection referred to as the ‘Subcommittee’) to advise the 
Secretary of the Treasury regarding the information security 
and confidentiality implications of regulations, guidance, 
information sharing programs, and the examination for compli-
ance with and enforcement of the provisions of the Bank Secrecy 
Act. 
‘‘(2) MEMBERSHIP.— 
‘‘(A) IN GENERAL.—The Subcommittee shall consist of 
the representatives of the heads of the Federal functional 
regulators, including, as appropriate, the Bank Secrecy 
Act Information Security Officers as established in section 
6303 of the Anti-Money Laundering Act of 2020, and rep-
resentatives from financial institutions subject to the Bank 
Secrecy Act, law enforcement, FinCEN, and any other rep-
resentatives as determined by the Secretary of the 
Treasury. 
‘‘(B) 
REQUIREMENTS.—Each 
agency 
representative 
described in subparagraph (A) shall be an individual who 
has demonstrated knowledge and competence concerning 
the application of the Bank Secrecy Act and familiarity 
with and expertise in applicable laws. 
‘‘(3) SUNSET.— 
‘‘(A) IN GENERAL.—Except as provided in subparagraph 
(B), the Subcommittee shall terminate on the date that 
is 5 years after the date of enactment of this subsection. 
‘‘(B) EXCEPTION.—The Secretary of the Treasury may 
renew the Subcommittee for 1-year periods beginning on 
the date that is 5 years after the date of enactment of 
this subsection. 
‘‘(f) DEFINITIONS.—In this section: 
‘‘(1) BANK SECRECY ACT.—The term ‘Bank Secrecy Act’ has 
the meaning given the term in section 6003 of the Anti-Money 
Laundering Act of 2020. 
‘‘(2) FEDERAL FUNCTIONAL REGULATOR.—The term ‘Federal 
functional regulator’ has the meaning given the term in section 
509 of the Gramm-Leach-Bliley Act (15 U.S.C. 6809). 
‘‘(3) FINCEN.—The term ‘FinCEN’ means the Financial 
Crimes Enforcement Network of the Department of the 
Treasury. 
‘‘(4) FINANCIAL INSTITUTION.—The term ‘financial institu-
tion’ has the meaning given the term in section 5312 of title 
31, United States Code. 
‘‘(5) STATE
CREDIT
UNION
SUPERVISOR.—The term ‘State 
credit union supervisor’ means a State official described in 
section 107A(e) of the Federal Credit Union Act (12 U.S.C. 
1757a(e)).’’. 
SEC. 6303. ESTABLISHMENT OF BANK SECRECY ACT INFORMATION 
SECURITY OFFICERS. 
(a) APPOINTMENT OF OFFICERS.—Not later than 1 year after 
the effective date of the regulations promulgated under subsection 
(d) of section 310 of title 31, United States Code, as added by 
section 6103 of this division, a Bank Secrecy Act Information Secu-
rity Officer shall be appointed, from among individuals with exper-
tise in Federal information security or privacy laws or Bank Secrecy 
Act disclosure policies and procedures—
H. R. 6395—1199 
(1) within each Federal functional regulator, by the head 
of the Federal functional regulator; 
(2) within FinCEN, by the Director of FinCEN; and 
(3) within the Internal Revenue Service, by the Secretary. 
(b) DUTIES.—Each Bank Secrecy Act Information Security 
Officer shall, with respect to the applicable regulator, bureau, or 
Center within which the Officer is located— 
(1) be consulted each time Bank Secrecy Act regulations 
affecting information security or disclosure of Bank Secrecy 
Act information are developed or reviewed; 
(2) be consulted on information-sharing policies under the 
Bank Secrecy Act, including those that allow financial institu-
tions to share information with each other and foreign affiliates, 
and those that allow Federal agencies to share with regulated 
entities; 
(3) be consulted on coordination and clarity between pro-
posed Bank Secrecy Act regulations and information security 
and confidentiality requirements, including with respect to the 
reporting of suspicious transactions under section 5318(g) of 
title 31, United States Code; 
(4) be consulted on— 
(A) the development of new technologies that may 
strengthen information security and compliance with the 
Bank Secrecy Act; and 
(B) the protection of information collected by each Fed-
eral functional regulator under the Bank Secrecy Act; and 
(5) develop metrics of program success. 
SEC. 6304. FINCEN ANALYTICAL HUB. 
Section 310 of title 31, United States Code, as amended by 
sections 6103, 6105, 6107, 6108, and 6109 of this division, is 
amended by inserting after subsection (i) the following: 
‘‘(j) ANALYTICAL EXPERTS.— 
‘‘(1) IN GENERAL.—FinCEN shall maintain financial experts 
capable of identifying, tracking, and tracing money laundering 
and terrorist-financing networks in order to conduct and sup-
port civil and criminal anti-money laundering and countering 
the financing of terrorism investigations conducted by the 
United States Government. 
‘‘(2) FINCEN ANALYTICAL HUB.—FinCEN, upon a reasonable 
request from a Federal agency, shall, in collaboration with 
the requesting agency and the appropriate Federal functional 
regulator, analyze the potential anti-money laundering and 
countering the financing of terrorism activity that prompted 
the request. 
‘‘(k) DEFINITIONS.—In this section: 
‘‘(1) BANK SECRECY ACT.—The term ‘Bank Secrecy Act’ has 
the meaning given the term in section 6003 of the Anti-Money 
Laundering Act of 2020. 
‘‘(2) FEDERAL FUNCTIONAL REGULATOR.—The term ‘Federal 
functional regulator’ has the meaning given the term in section 
509 of the Gramm-Leach-Bliley Act (15 U.S.C. 6809). 
‘‘(3) FINANCIAL INSTITUTION.—The term ‘financial institu-
tion’ has the meaning given the term in section 5312 of this 
title.