Cooperate with Law Enforcement Agencies and Watch Act of 2018

Bill: 115-hr-5783
Sponsor: full_name: Rep. Hill, J. French [R-AR-2]
Introduced: 2018-05-11
Policy area: Finance and Financial Sector
Subjects: Bank accounts, deposits, capital

Banking and financial institutions regulation

Business records

Civil actions and liability

Criminal investigation, prosecution, interrogation

Fraud offenses and financial crimes
Latest action: action_date: 2018-06-26
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2018-05-11
action_desc: Introduced in House
text: <p><b>Cooperate with Law Enforcement Agencies and Watch Act of 2018 </b></p> <p>This bill limits a financial institution's liability for maintaining a customer account in compliance with a written request by a federal or state law enforcement agency. A federal or state agency may not take an adverse supervisory action against a financial institution with respect to maintaining an account consistent with such a request. </p>

action_date: 2018-06-25
action_desc: Passed House amended
text: <p><b>Cooperate with Law Enforcement Agencies and Watch Act of 2018 </b></p> <p>(Sec. 2) This bill limits a financial institution's liability for maintaining a customer account in compliance with a written request by a federal, state, tribal, or local law enforcement agency. A federal or state agency may not take an adverse supervisory action against a financial institution with respect to maintaining an account consistent with such a request. </p>

tv_txt: I 115th CONGRESS 2d Session H. R. 5783 IN THE HOUSE OF REPRESENTATIVES May 11, 2018 Mr. Hill (for himself and Mr. Foster ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To provide a safe harbor for financial institutions that maintain a customer account at the request of a Federal or State law enforcement agency.

1. Short title This Act may be cited as the Cooperate with Law Enforcement Agencies and Watch Act of 2018 . 2. Safe harbor with respect to keep open letters (a) In general Subchapter II of chapter 53 of title 31, United States Code, is amended by adding at the end the following: 5333. Safe harbor with respect to keep open letters With respect to a customer account of a financial institution, if a Federal or State law enforcement agency requests, in writing, the financial institution to keep such account open— (1) the financial institution shall not be liable under this subchapter for maintaining such account consistent with the parameters of the request; and (2) no Federal or State department or agency may take any adverse supervisory action with respect to the financial institution for maintaining such account consistent with the parameters of the request. . (b) Clerical amendment The table of contents for chapter 53 of title 31, United States Code, is amended by inserting after the item relating to section 5332 the following: 5333. Safe harbor with respect to keep open letters. .

tv_txt: IIB 115th CONGRESS 2d Session H. R. 5783 IN THE SENATE OF THE UNITED STATES June 26, 2018 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To provide a safe harbor for financial institutions that maintain a customer account at the request of a Federal or State law enforcement agency.

1. Short title This Act may be cited as the Cooperate with Law Enforcement Agencies and Watch Act of 2018 . 2. Safe harbor with respect to keep open letters (a) In general Subchapter II of chapter 53 of title 31, United States Code, is amended by adding at the end the following: 5333. Safe harbor with respect to keep open letters (a) In general With respect to a customer account of a financial institution, if a Federal, State, Tribal, or local law enforcement agency requests, in writing, the financial institution to keep such account open— (1) the financial institution shall not be liable under this subchapter for maintaining such account consistent with the parameters of the request; and (2) no Federal or State department or agency may take any adverse supervisory action under this subchapter with respect to the financial institution for maintaining such account consistent with the parameters of the request. (b) Rule of construction Nothing in this section may be construed— (1) from preventing a Federal or State department or agency from verifying the validity of a written request described under subsection (a) with the Federal, State, Tribal, or local law enforcement agency making the written request; or (2) to relieve a financial institution from complying with any reporting requirements, including the reporting of suspicious transactions under section 5318(g). (c) Letter termination date For purposes of this section, any written request described under subsection (a) shall include a termination date after which such request shall no longer apply. . (b) Clerical amendment The table of contents for chapter 53 of title 31, United States Code, is amended by inserting after the item relating to section 5332 the following: 5333. Safe harbor with respect to keep open letters. .

Passed the House of Representatives June 25, 2018. Karen L. Haas, Clerk.

tv_txt: I 115th CONGRESS 2d Session H. R. 5783 IN THE HOUSE OF REPRESENTATIVES AN ACT To provide a safe harbor for financial institutions that maintain a customer account at the request of a Federal or State law enforcement agency.

1. Short title This Act may be cited as the Cooperate with Law Enforcement Agencies and Watch Act of 2018 . 2. Safe harbor with respect to keep open letters (a) In general Subchapter II of chapter 53 of title 31, United States Code, is amended by adding at the end the following: 5333. Safe harbor with respect to keep open letters (a) In general With respect to a customer account of a financial institution, if a Federal, State, Tribal, or local law enforcement agency requests, in writing, the financial institution to keep such account open— (1) the financial institution shall not be liable under this subchapter for maintaining such account consistent with the parameters of the request; and (2) no Federal or State department or agency may take any adverse supervisory action under this subchapter with respect to the financial institution for maintaining such account consistent with the parameters of the request. (b) Rule of construction Nothing in this section may be construed— (1) from preventing a Federal or State department or agency from verifying the validity of a written request described under subsection (a) with the Federal, State, Tribal, or local law enforcement agency making the written request; or (2) to relieve a financial institution from complying with any reporting requirements, including the reporting of suspicious transactions under section 5318(g). (c) Letter termination date For purposes of this section, any written request described under subsection (a) shall include a termination date after which such request shall no longer apply. . (b) Clerical amendment The table of contents for chapter 53 of title 31, United States Code, is amended by inserting after the item relating to section 5332 the following: 5333. Safe harbor with respect to keep open letters. .

Passed the House of Representatives June 25, 2018. Karen L. Haas, Clerk.

tv_txt: IB Union Calendar No. 606 115th CONGRESS 2d Session H. R. 5783 [Report No. 115–780] IN THE HOUSE OF REPRESENTATIVES May 11, 2018 Mr. Hill (for himself and Mr. Foster ) introduced the following bill; which was referred to the Committee on Financial Services June 25, 2018 Additional sponsors: Mr. Hollingsworth and Ms. Sinema June 25, 2018 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed Strike out all after the enacting clause and insert the part printed in italic For text of introduced bill, see copy of bill as introduced on May 11, 2018 A BILL To provide a safe harbor for financial institutions that maintain a customer account at the request of a Federal or State law enforcement agency.

1. Short title This Act may be cited as the Cooperate with Law Enforcement Agencies and Watch Act of 2018 . 2. Safe harbor with respect to keep open letters (a) In general Subchapter II of chapter 53 of title 31, United States Code, is amended by adding at the end the following: 5333. Safe harbor with respect to keep open letters (a) In general With respect to a customer account of a financial institution, if a Federal, State, Tribal, or local law enforcement agency requests, in writing, the financial institution to keep such account open— (1) the financial institution shall not be liable under this subchapter for maintaining such account consistent with the parameters of the request; and (2) no Federal or State department or agency may take any adverse supervisory action under this subchapter with respect to the financial institution for maintaining such account consistent with the parameters of the request. (b) Rule of construction Nothing in this section may be construed— (1) from preventing a Federal or State department or agency from verifying the validity of a written request described under subsection (a) with the Federal, State, Tribal, or local law enforcement agency making the written request; or (2) to relieve a financial institution from complying with any reporting requirements, including the reporting of suspicious transactions under section 5318(g). (c) Letter termination date For purposes of this section, any written request described under subsection (a) shall include a termination date after which such request shall no longer apply. . (b) Clerical amendment The table of contents for chapter 53 of title 31, United States Code, is amended by inserting after the item relating to section 5332 the following: 5333. Safe harbor with respect to keep open letters. .

June 25, 2018 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed