Focus on Protection Act

Bill: 118-hr-9358
Sponsor: full_name: Rep. Torres, Ritchie [D-NY-15]
Introduced: 2024-08-13
Policy area: Finance and Financial Sector
Latest action: action_date: 2024-08-13
text: Referred to the Committee on the Judiciary, and in addition to the Committees on Financial Services, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Summaries:

tv_txt: I 118th CONGRESS 2d Session H. R. 9358 IN THE HOUSE OF REPRESENTATIVES August 13, 2024 Mr. Torres of New York introduced the following bill; which was referred to the Committee on the Judiciary , and in addition to the Committees on Financial Services , and Appropriations , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To transfer the investigative jurisdiction over payment and financial systems from the United States Secret Service to the Department of the Treasury, and for other purposes.

1. Short title This Act may be cited as the Focus on Protection Act . 2. Findings Congress finds the following: (1) The investigative mission related to payment and financial systems is critical for maintaining the integrity of the Nation’s financial infrastructure. (2) The Department of the Treasury possesses the expertise and resources to effectively oversee and investigate issues related to payment and financial systems. (3) Transferring the investigative mission to the Department of the Treasury will enhance efficiency and focus in combating financial crimes. (4) Transferring the investigative mission will allow the United States Secret Service to focus on its core mission of protecting the President, Vice President, their families, visiting heads of state, and Presidential candidates, thereby enhancing national security. 3. Transfer of functions (a) Transfer of Functions The functions of the United States Secret Service related to the investigation of payment and financial systems, as described in subsection (b), are transferred to the Department of the Treasury. (b) Scope of Transferred Functions The transferred functions include each of the following: (1) Investigations of counterfeiting of United States currency and financial instruments. (2) Investigations of financial fraud, including credit card fraud, debit card fraud, and other forms of electronic payment fraud. (3) Investigations of cybercrimes affecting financial systems. 4. Conforming amendments (a) Title 18, United States Code Section 3056 of title 18, United States Code, is amended by repealing subsection (b). (b) Title 31, United States Code Section 321(a) of title 31, United States Code, is amended— (1) in paragraph (8)(C), by striking and at the end; (2) in paragraph (9), by striking the period and inserting ; and ; and (3) by adding at the end the following: (10) investigate payment and financial systems. . 5. Transition provisions (a) Transfer of personnel Personnel employed by the United States Secret Service to perform functions described in section 3(b) shall be transferred to the Department of the Treasury, with the same status and tenure held on the day before the date of enactment of this Act. (b) Transfer of assets and obligations The assets, contracts, property, and records associated with the functions transferred by this Act shall be transferred to the Department of the Treasury. (c) Continuity of operations The Secretary of the Treasury shall ensure that the transferred functions continue without interruption during and after the transfer process. (d) Determinations The Secretary of the Treasury shall make such determinations as are necessary with respect to— (1) which functions related to the investigation of payment and financial systems are transferred under this Act, and (2) the personnel, assets, and obligations associated with such functions that are transferred under this Act. 6. Budget reallocation Funds appropriated to the United States Secret Service for the purposes of the functions transferred by this Act shall be transferred to the Department of the Treasury. 7. Effective date This Act shall take effect 180 days after the date of enactment of this Act.