H. Rept. 115-981 1 (2018-09-26)

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                   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.
                      79-006

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