Page 56 - BILLS-107hr3162enr

H. R. 3162—55
SEC. 358. BANK SECRECY PROVISIONS AND ACTIVITIES OF UNITED
STATES INTELLIGENCE AGENCIES TO FIGHT INTER-
NATIONAL 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 counterintel-
ligence activities, including analysis, to protect against international
terrorism’’.
(b) AMENDMENT RELATING TO REPORTING OF SUSPICIOUS ACTIVI-
TIES.—Section 5318(g)(4)(B) of title 31, United States Code, is
amended by striking ‘‘or supervisory agency’’ and inserting ‘‘, super-
visory 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.—Sec-
tion 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 PUR-
POSE.—
‘‘(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 pro-
tect 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 pro-
ceedings 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