Page 57 - BILLS-107hr3162enr

H. R. 3162—56
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.—Section 123(a) of Public Law 91–508 (12 U.S.C.
1953(a)) is amended to read as follows:
‘‘(a) REGULATIONS.—If the Secretary determines that the
maintenance of appropriate records and procedures by any unin-
sured 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 anal-
yses 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 des-
ignated as section 624 (15 U.S.C. 1681u) (relating to disclo-
sure 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