Title: Countering Terrorist Financing Act of 2017
Policy area: Finance and Financial Sector

Summary:
Countering Terrorist Financing Act of 2017
This bill revises the authority of the Department of the Treasury to issue an order imposing recordkeeping and reporting requirements upon financial institutions and nonfinancial trade or business groups in certain geographic areas regarding transactions for the payment, receipt, or transfer of U.S. coins or currency (or other monetary instruments as Treasury may describe in an order). Specifically, a Treasury order for recordkeeping and reporting may include any funds (not just U.S. coins or currency) involved in such transactions.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2622 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 2622

 To amend title 31, United States Code, to authorize the Secretary of 
   the Treasury to include all funds when issuing certain geographic 
               targeting orders, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 24, 2017

    Mr. Lynch (for himself and Mr. King of New York) introduced the 
   following bill; which was referred to the Committee on Financial 
                                Services

_______________________________________________________________________

                                 A BILL


 
 To amend title 31, United States Code, to authorize the Secretary of 
   the Treasury to include all funds when issuing certain geographic 
               targeting orders, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Countering Terrorist Financing Act 
of 2017''.

SEC. 2. INCLUSION OF ALL FUNDS.

    (a) In General.--Section 5326 of title 31, United States Code, is 
amended--
            (1) in the heading of such section, by striking ``coin and 
        currency'';
            (2) in subsection (a)--
                    (A) by striking ``subtitle and'' and inserting 
                ``subtitle or to''; and
                    (B) in paragraph (1)(A), by striking ``United 
                States coins or currency (or such other monetary 
                instruments as the Secretary may describe in such 
                order)'' and inserting ``funds (as the Secretary may 
                describe in such order),''; and
            (3) in subsection (b)--
                    (A) in paragraph (1)(A), by striking ``coins or 
                currency (or monetary instruments)'' and inserting 
                ``funds''; and
                    (B) in paragraph (2), by striking ``coins or 
                currency (or such other monetary instruments as the 
                Secretary may describe in the regulation or order)'' 
                and inserting ``funds (as the Secretary may describe in 
                the regulation or order)''.
    (b) Clerical Amendment.--The table of contents for chapter 53 of 
title 31, United States Code, is amended in the item relating to 
section 5326 by striking ``coin and currency''.
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