Sec. 7802. TREASURY SUPPORT FOR FINANCIAL SERVICES INDUSTRY PREPAREDNESS AND RESPONSE AND CONSUMER EDUCATION

372 words·~2 min read·/statute-compilations/comps-8188/sec-7802

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## SEC. 7802 TREASURY SUPPORT FOR FINANCIAL SERVICES INDUSTRY PREPAREDNESS AND RESPONSE AND CONSUMER EDUCATION ###

(a)Findings Congress finds that the Secretary of the Treasury— ####

(1)has successfully communicated and coordinated with the private-sector financial services industry about financial infrastructure preparedness and response issues; ####

(2)has successfully reached out to State and local governments and regional public-private partnerships, such as ChicagoFIRST, that protect employees and critical infrastructure by enhancing communication and coordinating plans for disaster preparedness and business continuity; and ####

(3)has set an example for the Department of Homeland Security and other Federal agency partners, whose active participation is vital to the overall success of the activities described in paragraphs

(1)and (2). ###

(b)Sense of Congress It is the sense of Congress that the Secretary of the Treasury, in consultation with the Secretary of Homeland Security, other Federal agency partners, and private-sector financial organization partners, should— ####

(1)furnish sufficient personnel and technological and financial resources to educate consumers and employees of the financial services industry about domestic counterterrorist financing activities, particularly about— #####

(A)how the public and private sector organizations involved in such activities can combat terrorism while protecting and preserving the lives and civil liberties of consumers and employees of the financial services industry; and #####

(B)how the consumers and employees of the financial services industry can assist the public and private sector organizations involved in such activities; and ####

(2)submit annual reports to Congress on efforts to accomplish subparagraphs

(A)and

(B)of paragraph (1). ###

(c)Report on Public-Private Partnerships Before the end of the 6-month period beginning on the date of enactment of this Act, the Secretary of the Treasury shall submit a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate containing— ####

(1)information on the efforts that the Department of the Treasury has made to encourage the formation of public-private partnerships to protect critical financial infrastructure and the type of support that the Department has provided to such partnerships; and ####

(2)recommendations for administrative or legislative action regarding such partnerships, as the Secretary may determine to be appropriate.