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![handle is hein.congrecreports/crptxabla0001 and id is 1 raw text is: AUT-ENTICATED
US. GOVERNMENT
INFORMATION
O
115TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 115-780
COOPERATE WITH LAW ENFORCEMENT AGENCIES AND
WATCH ACT OF 2018
JUNE 25, 2018.-Committed to the Committee of the Whole House on the State of
the Union and ordered to be printed
Mr. HENSARLING, from the Committee on Financial Services,
submitted the following
REPORT
[To accompany H.R. 5783]
The Committee on Financial Services, to whom was referred the
bill (H.R. 5783) to provide a safe harbor for financial institutions
that maintain a customer account at the request of a Federal or
State law enforcement agency, having considered the same, report
favorably thereon with an amendment and recommend that the bill
as amended do pass.
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the Cooperate with Law Enforcement Agencies and
Watch Act of 2018.
SEC. 2. SAFE HARBOR WITH RESPECT TO KEEP OPEN LETTERS.
(a) IN GENERAL.-Subchapter II of chapter 53 of title 31, United States Code, is
amended by adding at the end the following:
§5333. Safe harbor with respect to keep open letters
(a) IN GENERAL.-With respect to a customer account of a financial institution,
if a Federal, State, Tribal, or local law enforcement agency requests, in writing, the
financial institution to keep such account open-
(1) the financial institution shall not be liable under this subchapter for
maintaining such account consistent with the parameters of the request; and
(2) no Federal or State department or agency may take any adverse super-
visory action under this subchapter with respect to the financial institution for
maintaining such account consistent with the parameters of the request.
(b) RULE OF CONSTRUCTION.-Nothing in this section may be construed-
(1) from preventing a Federal or State department or agency from verifying
the validity of a written request described under subsection (a) with the Fed-
eral, State, Tribal, or local law enforcement agency making the written request;
or
79-006](ViewImageLocal?handle=hein.congrecreports/crptxabla0001&div=1&collection=&method=preview&ext=.png&size=3)