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![handle is hein.congrecreports/crptxabut0001 and id is 1 raw text is: AUTHENTICATEO
U.S. GOVERNMENT
INFORMATION
Op
115TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 115-981
EMPOWERING FINANCIAL INSTITUTIONS TO FIGHT
HUMAN TRAFFICKING ACT OF 2018
SEPTEMBER 26, 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
together with
MINORITY VIEWS
[To accompany H.R. 6729]
The Committee on Financial Services, to whom was referred the
bill (H.R. 6729) to allow nonprofit organizations to register with the
Secretary of the Treasury and share information on activities that
may involve human trafficking or money laundering with financial
institutions and regulatory authorities, under a safe harbor that of-
fers protections from liability, in order to better identify and report
potential human trafficking or money laundering activities, having
considered the same, report favorably thereon without amendment
and recommend that the bill do pass.
PURPOSE AND SUMMARY
On September 6, 2018, Rep. Ann Wagner introduced H.R. 6729,
the Empowering Financial Institutions to Fight Human Traf-
ficking Act, which would instruct the Secretary of the Treasury to
establish a mechanism for nonprofit organizations to qualify for a
safe harbor when sharing specific information with financial insti-
tutions that facilitates their duties of customer due diligence and
the reporting of suspicious activities relating to human trafficking.
Registered nonprofit organizations that share information in
compliance with these regulations will receive safe harbor protec-
tions in order to protect themselves from retaliation, defamation
suits, and other actions.
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