Sec. 325. CONCENTRATION ACCOUNTS AT FINANCIAL INSTITUTIONS
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## SEC. 325 CONCENTRATION ACCOUNTS AT FINANCIAL INSTITUTIONS Section 5318(h) of title 31, United States Code, as amended by section 352, is amended by adding at the end the following: > > #### “(3) Concentration accounts > > The Secretary may prescribe regulations under this subsection that govern maintenance of concentration accounts by financial institutions, in order to ensure that such accounts are not used to prevent association of the identity of an individual customer with the movement of funds of which the customer is the direct or beneficial owner, which regulations shall, at a minimum— > > > ##### “(A) > > prohibit financial institutions from allowing clients to direct transactions that move their funds into, out of, or through the concentration accounts of the financial institution; > > > ##### “(B) > > prohibit financial institutions and their employees from informing customers of the existence of, or the means of identifying, the concentration accounts of the institution; and > > > ##### “(C) > > require each financial institution to establish written procedures governing the documentation of all transactions involving a concentration account, which procedures shall ensure that, any time a transaction involving a concentration account commingles funds belonging to 1 or more customers, the identity of, and specific amount belonging to, each customer is documented.” > .