Sec. 358. BANK SECRECY PROVISIONS AND ACTIVITIES OF UNITED STATES INTELLIGENCE AGENCIES TO FIGHT INTERNATIONAL TERRORISM

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## SEC. 358 BANK SECRECY PROVISIONS AND ACTIVITIES OF UNITED STATES INTELLIGENCE AGENCIES TO FIGHT INTERNATIONAL TERRORISM ###

(a)Amendment Relating to the Purposes of Chapter 53 of Title 31, United States Code Section 5311 of title 31, United States Code, is amended by inserting before the period at the end the following: “, or in the conduct of intelligence or counterintelligence activities, including analysis, to protect against international terrorism”. ###

(b)Amendment Relating to Reporting of Suspicious Activities Section 5318(g)(4)(B) of title 31, United States Code, is amended by striking “or supervisory agency” and inserting “, supervisory agency, or United States intelligence agency for use in the conduct of intelligence or counterintelligence activities, including analysis, to protect against international terrorism”. ###

(c)Amendment Relating to Availability of Reports Section 5319 of title 31, United States Code, is amended to read as follows: > > ## “§ 5319 Availability of reports > > “The Secretary of the Treasury shall make information in a report filed under this subchapter available to an agency, including any State financial institutions supervisory agency, United States intelligence agency or self-regulatory organization registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission, upon request of the head of the agency or organization. The report shall be available for a purpose that is consistent with this subchapter. The Secretary may only require reports on the use of such information by any State financial institutions supervisory agency for other than supervisory purposes or by United States intelligence agencies. However, a report and records of reports are exempt from disclosure under section 552 of title 5.” > . ###

(d)Amendment Relating to the Purposes of the Bank Secrecy Act Provisions Section 21(a) of the Federal Deposit Insurance Act (12 U.S.C. 1829b(a)) is amended to read as follows: > > ### “(a) Congressional Findings and Declaration of Purpose > > > #### “(1) Findings > > Congress finds that— > > > ##### “(A) > > adequate records maintained by insured depository institutions have a high degree of usefulness in criminal, tax, and regulatory investigations or proceedings, and that, given the threat posed to the security of the Nation on and after the terrorist attacks against the United States on September 11, 2001, such records may also have a high degree of usefulness in the conduct of intelligence or counterintelligence activities, including analysis, to protect against domestic and international terrorism; and > > > ##### “(B) > > microfilm or other reproductions and other records made by insured depository institutions of checks, as well as records kept by such institutions, of the identity of persons maintaining or authorized to act with respect to accounts therein, have been of particular value in proceedings described in subparagraph (A). > > > #### “(2) Purpose > > It is the purpose of this section to require the maintenance of appropriate types of records by insured depository institutions in the United States where such records have a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings, recognizes that, given the threat posed to the security of the Nation on and after the terrorist attacks against the United States on September 11, 2001, such records may also have a high degree of usefulness in the conduct of intelligence or counterintelligence activities, including analysis, to protect against international terrorism.” > . ###

(e)Amendment Relating to the Purposes of the Bank Secrecy Act That portion of section 123(a) of Public Law 91–508 (12 U.S.C. 1953(a)) that precedes paragraph

(1)of such section is amended to read as follows: > > ### “(a) Regulations > > If the Secretary determines that the maintenance of appropriate records and procedures by any uninsured bank or uninsured institution, or any person engaging in the business of carrying on in the United States any of the functions referred to in subsection (b), has a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings, and that, given the threat posed to the security of the Nation on and after the terrorist attacks against the United States on September 11, 2001, such records may also have a high degree of usefulness in the conduct of intelligence or counterintelligence activities, including analysis, to protect against international terrorism, he may by regulation require such bank, institution, or person—” > . ###

(f)Amendments to the Right to Financial Privacy Act The Right to Financial Privacy Act of 1978 is amended— ####

(1)in section 1112(a) (12 U.S.C. 3412(a)), by inserting “, or intelligence or counterintelligence activity, investigation or analysis related to international terrorism” after “legitimate law enforcement inquiry”; ####

(2)in section 1114(a)(1) (12 U.S.C. 3414(a)(1))— #####

(A)in subparagraph (A), by striking “or” at the end; #####

(B)in subparagraph (B), by striking the period at the end and inserting “; or”; and #####

(C)by adding at the end the following: > > ##### “(C) > > a Government authority authorized to conduct investigations of, or intelligence or counterintelligence analyses related to, international terrorism for the purpose of conducting such investigations or analyses.” > ; and ####

(3)in section 1120(a)(2) (12 U.S.C. 3420(a)(2)), by inserting “, or for a purpose authorized by section 1112(a)” before the semicolon at the end. ###

(g)Amendment to the Fair Credit Reporting Act ####

(1)In general The Fair Credit Reporting Act (15 U.S.C. 1681 et seq.) is amended— #####

(A)by redesignating the second of the 2 sections designated as section 624 (15 U.S.C. 1681u) (relating to disclosure to FBI for counterintelligence purposes) as section 625; and #####

(B)by adding at the end the following new section: > > ## “§ 626 Disclosures to governmental agencies for counterterrorism purposes > > > ### “(a) Disclosure > > Notwithstanding section 604 or any other provision of this title, a consumer reporting agency shall furnish a consumer report of a consumer and all other information in a consumer's file to a government agency authorized to conduct investigations of, or intelligence or counterintelligence activities or analysis related to, international terrorism when presented with a written certification by such government agency that such information is necessary for the agency's conduct or such investigation, activity or analysis. > > > ### “(b) Form of Certification > > The certification described in subsection

(a)shall be signed by a supervisory official designated by the head of a Federal agency or an officer of a Federal agency whose appointment to office is required to be made by the President, by and with the advice and consent of the Senate. > > > ### “(c) Confidentiality > > No consumer reporting agency, or officer, employee, or agent of such consumer reporting agency, shall disclose to any person, or specify in any consumer report, that a government agency has sought or obtained access to information under subsection (a). > > > ### “(d) Rule of Construction > > Nothing in section 625 shall be construed to limit the authority of the Director of the Federal Bureau of Investigation under this section. > > > ### “(e) Safe Harbor > > Notwithstanding any other provision of this title, any consumer reporting agency or agent or employee thereof making disclosure of consumer reports or other information pursuant to this section in good-faith reliance upon a certification of a governmental agency pursuant to the provisions of this section shall not be liable to any person for such disclosure under this subchapter, the constitution of any State, or any law or regulation of any State or any political subdivision of any State.” > . ####

(2)Clerical amendments The table of sections for the Fair Credit Reporting Act (15 U.S.C. 1681 et seq.) is amended— #####

(A)by redesignating the second of the 2 items designated as section 624 as section 625; and #####

(B)by inserting after the item relating to section 625 (as so redesignated) the following new item:" “626. Disclosures to governmental agencies for counterterrorism purposes.” ". ###

(h)Application of Amendments The amendments made by this section shall apply with respect to reports filed or records maintained on, before, or after the date of enactment of this Act.

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