Us Congress 2023-2024 Regular Session

Us Congress Senate Bill SB5242 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	II
2	2	118THCONGRESS
3	3	2
4	4	DSESSION S. 5242
5	5	To amend the Right to Financial Privacy Act of 1978 to preserve the
6	6	confidentiality of certain records, and for other purposes.
7	7	IN THE SENATE OF THE UNITED STATES
8	8	SEPTEMBER25, 2024
9	9	Mr. L
10	10	EE(for himself and Mr. SCOTTof Florida) introduced the following bill;
11	11	which was read twice and referred to the Committee on Homeland Secu-
12	12	rity and Governmental Affairs
13	13	A BILL
14	14	To amend the Right to Financial Privacy Act of 1978 to
15	15	preserve the confidentiality of certain records, and for
16	16	other purposes.
17	17	Be it enacted by the Senate and House of Representa-1
18	18	tives of the United States of America in Congress assembled, 2
19	19	SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 3
20	20	(a) S
21	21	HORTTITLE.—This Act may be cited as the 4
22	22	‘‘Saving Privacy Act’’. 5
23	23	(b) T
24	24	ABLE OFCONTENTS.—The table of contents for 6
25	25	this Act is as follows: 7
26	26	Sec. 1. Short title; table of contents.
27	27	TITLE I—BANK PRIVACY REFORM
28	28	Sec. 101. Bank Secrecy Act reforms.
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32	32	TITLE II—AMENDMENTS TO THE RIGHT TO FINANCIAL PRIVACY
33	33	ACT OF 1978
34	34	Sec. 201. Warrant requirements and exceptions.
35	35	TITLE III—CONSOLIDATED AUDIT TRAIL
36	36	Sec. 301. Requirements and prohibitions regarding the Consolidated Audit
37	37	Trail.
38	38	TITLE IV—NO CENTRAL BANK DIGITAL CURRENCY
39	39	Sec. 401. Central bank digital currency.
40	40	TITLE V—REGULATIONS FROM THE EXECUTIVE IN NEED OF
41	41	SCRUTINY
42	42	Sec. 501. Purpose.
43	43	Sec. 502. Congressional review of certain agency rulemaking.
44	44	Sec. 503. Budgetary effects of rules subject to section 802 of title 5, United
45	45	States Code.
46	46	Sec. 504. Government Accountability Office study of rules.
47	47	TITLE VI—SUSPICIOUS ACTIVITY
48	48	Sec. 601. Criminal penalties.
49	49	Sec. 602. Civil penalties.
50	50	Sec. 603. Other relief.
51	51	TITLE I—BANK PRIVACY 1
52	52	REFORM 2
53	53	SEC. 101. BANK SECRECY ACT REFORMS. 3
54	54	(a) R
55	55	IGHT TOFINANCIALPRIVACYACT OF1978.— 4
56	56	The Right to Financial Privacy Act of 1978 (12 U.S.C. 5
57	57	3401 et seq.) is amended— 6
58	58	(1) by amending section 1102 (12 U.S.C. 3402) 7
59	59	to read as follows: 8
60	60	‘‘SEC. 1102. CONFIDENTIALITY OF RECORDS—GOVERN-9
61	61	MENT AUTHORITIES. 10
62	62	‘‘Except as provided by subsection (c) or (d) of sec-11
63	63	tion 1103 or section 1113, no Government authority may 12
64	64	have access to or obtain copies of, or the information con-13
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68	68	tained in the financial records of any customer from a fi-1
69	69	nancial institution unless the financial records are reason-2
70	70	ably described and such financial records are disclosed in 3
71	71	response to a search warrant which meets the require-4
72	72	ments of section 1106.’’; 5
73	73	(2) by striking sections 1104 (12 U.S.C. 3404), 6
74	74	1105 (12 U.S.C. 3405), 1107 (12 U.S.C. 3407), and 7
75	75	1108 (12 U.S.C. 3408); and 8
76	76	(3) in section 1109(a) (12 U.S.C. 3409(a)), by 9
77	77	striking ‘‘section 1104(c), 1105(2), 1106(c), 10
78	78	1107(2), 1108(4),’’ and inserting ‘‘section 1106(c)’’. 11
79	79	(b) T
80	80	ITLE31.—Chapter 53 of title 31, United States 12
81	81	Code, is amended— 13
82	82	(1) by amending section 5311 to read as fol-14
83	83	lows: 15
84	84	‘‘§ 5311. Declaration of purpose 16
85	85	‘‘It is the purpose of this subchapter to require finan-17
86	86	cial institutions to retain transaction records that include 18
87	87	information identified with or identifiable as being derived 19
88	88	from the financial records of particular customers.’’; 20
89	89	(2) in section 5312(a)— 21
90	90	(A) in paragraph (3)— 22
91	91	(i) in subparagraph (B), by adding 23
92	92	‘‘and’’ at the end; 24
93	93	(ii) by striking subparagraph (C); 25
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97	97	(iii) by redesignating subparagraph 1
98	98	(D) as subparagraph (C); and 2
99	99	(iv) in subparagraph (C), as so redes-3
100	100	ignated, by striking ‘‘subparagraph (A), 4
101	101	(B), or (C)’’ and inserting ‘‘subparagraph 5
102	102	(A) or (B)’’; and 6
103	103	(B) by amending paragraph (4) to read as 7
104	104	follows: 8
105	105	‘‘(4) ‘nonfinancial trade or business’ means any 9
106	106	entity engaged in trade or business other than a fi-10
107	107	nancial institution.’’; 11
108	108	(3) by striking sections 5313, 5314, 5315, 12
109	109	5316, 5317, 5318A, 5324, 5326, 5331, 5332, and 13
110	110	5336; 14
111	111	(4) in section 5318— 15
112	112	(A) in subsection (a)— 16
113	113	(i) in the matter preceding paragraph 17
114	114	(1), by striking ‘‘(except under section 18
115	115	5315 of this title and regulations pre-19
116	116	scribed under section 5315)’’; 20
117	117	(ii) by striking paragraph (2); and 21
118	118	(iii) by redesignating paragraphs (3) 22
119	119	through (7) as paragraphs (2) through (6), 23
120	120	respectively; and 24
121	121	(B) in subsection (k)— 25
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125	125	(i) in paragraph (1)(C), by striking 1
126	126	‘‘has the same meaning as in section 2
127	127	5318A(e)(1)(B)’’ and inserting ‘‘means an 3
128	128	account established to receive deposits 4
129	129	from, make payments on behalf of a for-5
130	130	eign financial institution, or handle other 6
131	131	financial transactions related to such insti-7
132	132	tution’’; and 8
133	133	(ii) in paragraph (3)(A)(i)— 9
134	134	(I) in subclause (II), by adding 10
135	135	‘‘or’’ at the end; 11
136	136	(II) in subclause (III), by strik-12
137	137	ing ‘‘; or’’ and inserting a period; and 13
138	138	(III) by striking subclause (IV); 14
139	139	(5) in section 5321— 15
140	140	(A) in subsection (a)— 16
141	141	(i) in paragraph (1), by striking ‘‘(ex-17
142	142	cept sections 5314, 5315, and 5336 of this 18
143	143	title or a regulation prescribed under sec-19
144	144	tions 5314, 5315, and 5336)’’; 20
145	145	(ii) by striking paragraphs (2), (3), 21
146	146	(4), and (5); 22
147	147	(iii) in paragraph (6), by striking 23
148	148	‘‘(except section 5336)’’ each place that 24
149	149	term appears; 25
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153	153	(iv) in paragraph (7), by striking ‘‘or 1
154	154	any special measures imposed under sec-2
155	155	tion 5318A’’; and 3
156	156	(v) by redesignating paragraphs (6) 4
157	157	and (7) as paragraphs (2) and (3), respec-5
158	158	tively; 6
159	159	(B) by striking subsection (c); and 7
160	160	(C) by redesignating subsections (d) 8
161	161	through (g) as subsection (c) through (f), re-9
162	162	spectively; 10
163	163	(6) in section 5322— 11
164	164	(A) by striking ‘‘(except section 5315, 12
165	165	5324, or 5336 of this title or a regulation pre-13
166	166	scribed under section 5315, 5324, or 5336)’’ 14
167	167	each place that term appears; and 15
168	168	(B) in subsection (d)— 16
169	169	(i) by striking ‘‘, or any special meas-17
170	170	ures imposed under section 5318A,’’; and 18
171	171	(ii) by striking ‘‘or section 5318A’’; 19
172	172	(7) in section 5325(a), in the matter preceding 20
173	173	paragraph (1), by inserting after ‘‘$3,000’’ the fol-21
174	174	lowing: ‘‘(as such amount is annually adjusted by 22
175	175	the Secretary to reflect the percentage change in the 23
176	176	Consumer Price Index for All Urban Consumers 24
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180	180	published by the Bureau of Labor Statistics of the 1
181	181	Department of Labor)’’; 2
182	182	(8) in section 5330(d)(1)— 3
183	183	(A) in subparagraph (A), by adding ‘‘and’’ 4
184	184	at the end; 5
185	185	(B) by striking subparagraph (B); and 6
186	186	(C) by redesignating subparagraph (C) as 7
187	187	subparagraph (B); 8
188	188	(9) in section 5335— 9
189	189	(A) by striking subsection (c); and 10
190	190	(B) by redesignating subsections (d) and 11
191	191	(e) as subsections (c) and (d), respectively; 12
192	192	(10) by striking subchapter III; and 13
193	193	(11) in the table of contents for chapter 53, by 14
194	194	striking the items relating to— 15
195	195	(A) sections 5313, 5314, 5315, 5316, 16
196	196	5317, 5318A, 5324, 5326, 5331, 5332, and 17
197	197	5336; and 18
198	198	(B) subchapter III. 19
199	199	TITLE II—AMENDMENTS TO THE 20
200	200	RIGHT TO FINANCIAL PRI-21
201	201	VACY ACT OF 1978 22
202	202	SEC. 201. WARRANT REQUIREMENTS AND EXCEPTIONS. 23
203	203	The Right to Financial Privacy Act of 1978 (12 24
204	204	U.S.C. 3401 et seq.) is amended— 25
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208	208	(1) in section 1108 (12 U.S.C. 3408)— 1
209	209	(A) by striking paragraph (2); and 2
210	210	(B) by redesignating paragraphs (3) and 3
211	211	(4) as paragraphs (2) and (3), respectively; and 4
212	212	(2) in section 1113 (12 U.S.C. 3413)— 5
213	213	(A) by repealing subsections (a), (b), (d), 6
214	214	(e), (f), (g), (i), (l), (m), (n), (p), (q), and (r); 7
215	215	and 8
216	216	(B) by adding at the end the following: 9
217	217	‘‘(s) A
218	218	CCESS OFRECORDS.—Notwithstanding any 10
219	219	other provision of this title, the Federal Government may 11
220	220	not access the financial records or information of an indi-12
221	221	vidual in a manner that is prohibited by the Fourth 13
222	222	Amendment to the Constitution of the United States with 14
223	223	respect to the records or information in question.’’. 15
224	224	TITLE III—CONSOLIDATED 16
225	225	AUDIT TRAIL 17
226	226	SEC. 301. REQUIREMENTS AND PROHIBITIONS REGARDING 18
227	227	THE CONSOLIDATED AUDIT TRAIL. 19
228	228	(a) D
229	229	EFINITIONS.—In this section: 20
230	230	(1) C
231	231	OMMISSION.—The term ‘‘Commission’’ 21
232	232	means the Securities and Exchange Commission. 22
233	233	(2) C
234	234	ONSOLIDATED AUDIT TRAIL .—The term 23
235	235	‘‘Consolidated Audit Trail’’ means the consolidated 24
236	236	audit trail and central repository created, imple-25
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240	240	mented, and maintained pursuant to section 242.613 1
241	241	of title 17, Code of Federal Regulations, as in effect 2
242	242	on the day before the date of enactment of this Act. 3
243	243	(3) P
244	244	ERSONALLY IDENTIFIABLE INFORMA -4
245	245	TION.—The term ‘‘personally identifiable informa-5
246	246	tion’’— 6
247	247	(A) means information that can be used to 7
248	248	distinguish or trace the identity of an indi-8
249	249	vidual, either alone or when combined with 9
250	250	other personal or identifying information that is 10
251	251	linked or linkable to a specific individual, in-11
252	252	cluding the name, address, date or year of 12
253	253	birth, Social Security number, telephone num-13
254	254	ber, email, or IP-address of an individual; and 14
255	255	(B) does not include a CAT–Order–ID or 15
256	256	CAT–Reporter–ID, as those terms are defined 16
257	257	in section 242.613(j) of title 17, Code of Fed-17
258	258	eral Regulations (or any successor regulation). 18
259	259	(4) S
260	260	ELF-REGULATORY ORGANIZATION .—The 19
261	261	term ‘‘self-regulatory organization’’ has the meaning 20
262	262	given the term in section 3(a) of the Securities Ex-21
263	263	change Act of 1934 (15 U.S.C. 78c(a)). 22
264	264	(b) R
265	265	EQUIREMENT.—The Commission shall— 23
266	266	(1) not later than 30 days after the date of en-24
267	267	actment of this Act, and notwithstanding any other 25
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271	271	provision of law or regulation, terminate the Consoli-1
272	272	dated Audit Trail; and 2
273	273	(2) not later that 120 days after the date of en-3
274	274	actment of this Act, amend any regulation, no action 4
275	275	letter, interpretive letter, exemptive letter, legal bul-5
276	276	letin, or other guidance of the Commission to con-6
277	277	form to the requirements of this section. 7
278	278	(c) P
279	279	ROHIBITIONS.—On and after the date that the 8
280	280	Commission carries out the termination required under 9
281	281	subsection (b)(1)— 10
282	282	(1) neither the Commission nor any self-regu-11
283	283	latory organization may administer the Consolidated 12
284	284	Audit Trail; and 13
285	285	(2) no Federal agency may establish any con-14
286	286	solidated audit trail, central repository, or other cen-15
287	287	tralized database that collects personally identifiable 16
288	288	information of citizens of the United States, unless 17
289	289	a duly enacted law of the United States specifically 18
290	290	provides the Federal agency with the authority to 19
291	291	take that action. 20
292	292	(d) R
293	293	EIMBURSEMENT OF FEES.—Not later than 1 21
294	294	year after the date of enactment of this Act, Consolidated 22
295	295	Audit Trail, LLC and FINRA CAT, LLC shall reimburse 23
296	296	all fees collected by those entities before that date to carry 24
297	297	out the Consolidated Audit Trail. 25
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301	301	TITLE IV—NO CENTRAL BANK 1
302	302	DIGITAL CURRENCY 2
303	303	SEC. 401. CENTRAL BANK DIGITAL CURRENCY. 3
304	304	Section 13 of the Federal Reserve Act is amended 4
305	305	by adding after the 14th undesignated paragraph (12 5
306	306	U.S.C. 347d) the following: 6
307	307	‘‘No Federal reserve bank, the Board, the Sec-7
308	308	retary of the Treasury, any other agency, or any en-8
309	309	tity directed to act on behalf of the Federal reserve 9
310	310	bank, the Board, the Secretary, or other agency, 10
311	311	may mint or issue a central bank digital currency di-11
312	312	rectly to an individual (including a central bank dig-12
313	313	ital currency issued to an individual through a custo-13
314	314	dial intermediary) or a digital currency inter-14
315	315	mediary, offer related products or services directly to 15
316	316	an individual, or maintain an account on behalf of 16
317	317	an individual (including an account in a specially 17
318	318	designated account at a digital currency inter-18
319	319	mediary or supervised commercial bank). No Federal 19
320	320	reserve bank may hold digital currencies minted or 20
321	321	issued by the United States Government as assets or 21
322	322	liabilities on a balance sheet of the bank or use such 22
323	323	digital currencies as part of fulfilling the require-23
324	324	ments under section 2A.’’. 24
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328	328	TITLE V—REGULATIONS FROM 1
329	329	THE EXECUTIVE IN NEED OF 2
330	330	SCRUTINY 3
331	331	SEC. 501. PURPOSE. 4
332	332	The purpose of this title is to increase accountability 5
333	333	for and transparency in the Federal regulatory process. 6
334	334	Section 1 of article I of the United States Constitution 7
335	335	grants all legislative powers to Congress. Over time, Con-8
336	336	gress has excessively delegated its constitutional charge 9
337	337	while failing to conduct appropriate oversight and retain 10
338	338	accountability for the content of the laws it passes. By 11
339	339	requiring a vote in Congress, the REINS Act will result 12
340	340	in more carefully drafted and detailed legislation, an im-13
341	341	proved regulatory process, and a legislative branch that 14
342	342	is truly accountable to the American people for the laws 15
343	343	imposed upon them. 16
344	344	SEC. 502. CONGRESSIONAL REVIEW OF CERTAIN AGENCY 17
345	345	RULEMAKING. 18
346	346	(a) I
347	347	NGENERAL.—Chapter 8 of title 5, United 19
348	348	States Code, is amended to read as follows: 20
349	349	‘‘CHAPTER 8—CONGRESSIONAL REVIEW 21
350	350	OF CERTAIN AGENCY RULEMAKING 22
351	351	‘‘Sec.
352	352	‘‘801. Congressional review.
353	353	‘‘802. Congressional approval procedure for major rules.
354	354	‘‘803. Congressional disapproval procedure for nonmajor rules.
355	355	‘‘804. Definitions.
356	356	‘‘805. Judicial review.
357	357	‘‘806. Exemption for monetary policy.
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361	361	‘‘807. Effective date of certain rules.
362	362	‘‘808. Review of rules currently in effect.
363	363	‘‘§ 801. Congressional review 1
364	364	‘‘(a)(1)(A) Before a rule may take effect, the Federal 2
365	365	agency promulgating such rule shall publish in the Federal 3
366	366	Register a list of information on which the rule is based, 4
367	367	including data, scientific and economic studies, and cost- 5
368	368	benefit analyses, and identify how the public can access 6
369	369	such information online, and shall submit to each House 7
370	370	of the Congress and to the Comptroller General a report 8
371	371	containing— 9
372	372	‘‘(i) a copy of the rule; 10
373	373	‘‘(ii) a concise general statement relating to the 11
374	374	rule; 12
375	375	‘‘(iii) a finding, rendered in consultation with 13
376	376	the Administrator of the Office of Information and 14
377	377	Regulatory Affairs of the Office of Management and 15
378	378	Budget, whether the rule is a major or nonmajor 16
379	379	rule, including an explanation of the finding specifi-17
380	380	cally addressing each criteria for a major rule con-18
381	381	tained within subparagraphs (A) through (C) of sec-19
382	382	tion 804(2); 20
383	383	‘‘(iv) a list of any other related regulatory ac-21
384	384	tions intended to implement the same statutory pro-22
385	385	vision or regulatory objective as well as the indi-23
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389	389	vidual and aggregate economic effects of those ac-1
390	390	tions; 2
391	391	‘‘(v) the proposed effective date of the rule; and 3
392	392	‘‘(vi) a statement of the constitutional authority 4
393	393	authorizing the agency to make the rule. 5
394	394	‘‘(B) On the date of the submission of the report 6
395	395	under subparagraph (A), the Federal agency promulgating 7
396	396	the rule shall submit to the Comptroller General and make 8
397	397	available to each House of Congress (and to each com-9
398	398	mittee of jurisdiction in each House)— 10
399	399	‘‘(i) a complete copy of the cost-benefit analysis 11
400	400	of the rule, if any, including an analysis of any jobs 12
401	401	added or lost, differentiating between public and pri-13
402	402	vate sector jobs; 14
403	403	‘‘(ii) the agency’s actions pursuant to sections 15
404	404	603, 604, 605, 607, and 609 of this title; 16
405	405	‘‘(iii) the agency’s actions pursuant to sections 17
406	406	202, 203, 204, and 205 of the Unfunded Mandates 18
407	407	Reform Act of 1995; 19
408	408	‘‘(iv) an estimate of the effect on inflation of 20
409	409	the rule; and 21
410	410	‘‘(v) any other relevant information or require-22
411	411	ments under any other Act and any relevant Execu-23
412	412	tive orders. 24
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416	416	‘‘(C) Upon receipt of a report submitted under sub-1
417	417	paragraph (A), each House shall provide copies of the re-2
418	418	port to the chairman and ranking member of each stand-3
419	419	ing committee with jurisdiction under the rules of the 4
420	420	House of Representatives or the Senate to report a bill 5
421	421	to amend the provision of law under which the rule is 6
422	422	issued. 7
423	423	‘‘(D) If requested in writing by a member of Con-8
424	424	gress— 9
425	425	‘‘(i) the Comptroller General shall make a de-10
426	426	termination whether an agency action qualifies as a 11
427	427	rule for purposes of this chapter, and shall submit 12
428	428	to Congress this determination not later than 60 13
429	429	days after the date of the request; and 14
430	430	‘‘(ii) the Comptroller General, in consultation 15
431	431	with the Director of the Congressional Budget Of-16
432	432	fice, shall make a determination whether a rule is 17
433	433	considered a major rule under the provisions of this 18
434	434	act, and shall submit to Congress this determination 19
435	435	not later than 90 days after the date of the request. 20
436	436	For purposes of this section, a determination under this 21
437	437	subparagraph shall be deemed to be a report under sub-22
438	438	paragraph (A). 23
439	439	‘‘(2)(A) The Comptroller General shall provide a re-24
440	440	port on each major rule to the committees of jurisdiction 25
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443	443	•S 5242 IS
444	444	by the end of 15 calendar days after the submission or 1
445	445	publication date. The report of the Comptroller General 2
446	446	shall include an assessment of the agency’s compliance 3
447	447	with procedural steps required by paragraph (1)(B) and 4
448	448	an assessment of whether the major rule imposes any new 5
449	449	limits or mandates on private-sector activity. 6
450	450	‘‘(B) Federal agencies shall cooperate with the Comp-7
451	451	troller General by providing information relevant to the 8
452	452	Comptroller General’s report under subparagraph (A). 9
453	453	‘‘(3) A major rule relating to a report submitted 10
454	454	under paragraph (1) shall take effect upon enactment of 11
455	455	a joint resolution of approval described in section 802 or 12
456	456	as provided for in the rule following enactment of a joint 13
457	457	resolution of approval described in section 802, whichever 14
458	458	is later. 15
459	459	‘‘(4) A nonmajor rule shall take effect as provided 16
460	460	by section 803 after submission to Congress under para-17
461	461	graph (1). 18
462	462	‘‘(5) If a joint resolution of approval relating to a 19
463	463	major rule is not enacted within the period provided in 20
464	464	subsection (b)(2), then a joint resolution of approval relat-21
465	465	ing to the same rule may not be considered under this 22
466	466	chapter in the same Congress by either the House of Rep-23
467	467	resentatives or the Senate. 24
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471	471	‘‘(b)(1) A major rule shall not take effect unless the 1
472	472	Congress enacts a joint resolution of approval described 2
473	473	under section 802. 3
474	474	‘‘(2) If a joint resolution described in subsection (a) 4
475	475	is not enacted into law by the end of 70 session days or 5
476	476	legislative days, as applicable, beginning on the date on 6
477	477	which the report referred to in subsection (a)(1)(A) is re-7
478	478	ceived by Congress (excluding days either House of Con-8
479	479	gress is adjourned for more than 3 days during a session 9
480	480	of Congress), then the rule described in that resolution 10
481	481	shall be deemed not to be approved and such rule shall 11
482	482	not take effect. 12
483	483	‘‘(c)(1) Notwithstanding any other provision of this 13
484	484	section (except subject to paragraph (3)), a major rule 14
485	485	may take effect for one 90-calendar-day period if the 15
486	486	President makes a determination under paragraph (2) and 16
487	487	submits written notice of such determination to the Con-17
488	488	gress. 18
489	489	‘‘(2) Paragraph (1) applies to a determination made 19
490	490	by the President by Executive order that the major rule 20
491	491	should take effect because such rule is— 21
492	492	‘‘(A) necessary because of an imminent threat 22
493	493	to health or safety or other emergency; 23
494	494	‘‘(B) necessary for the enforcement of criminal 24
495	495	laws; 25
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498	498	•S 5242 IS
499	499	‘‘(C) necessary for national security; or 1
500	500	‘‘(D) issued pursuant to any statute imple-2
501	501	menting an international trade agreement. 3
502	502	‘‘(3) An exercise by the President of the authority 4
503	503	under this subsection shall have no effect on the proce-5
504	504	dures under section 802. 6
505	505	‘‘(d)(1) In addition to the opportunity for review oth-7
506	506	erwise provided under this chapter, in the case of any rule 8
507	507	for which a report was submitted in accordance with sub-9
508	508	section (a)(1)(A) during the period beginning on the date 10
509	509	occurring— 11
510	510	‘‘(A) in the case of the Senate, 60 session days; 12
511	511	or 13
512	512	‘‘(B) in the case of the House of Representa-14
513	513	tives, 60 legislative days, 15
514	514	before the date the Congress is scheduled to adjourn a 16
515	515	session of Congress through the date on which the same 17
516	516	or succeeding Congress first convenes its next session, sec-18
517	517	tions 802 and 803 shall apply to such rule in the suc-19
518	518	ceeding session of Congress. 20
519	519	‘‘(2)(A) In applying sections 802 and 803 for pur-21
520	520	poses of such additional review, a rule described under 22
521	521	paragraph (1) shall be treated as though— 23
522	522	‘‘(i) such rule were published in the Federal 24
523	523	Register on— 25
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526	526	•S 5242 IS
527	527	‘‘(I) in the case of the Senate, the 15th 1
528	528	session day; or 2
529	529	‘‘(II) in the case of the House of Rep-3
530	530	resentatives, the 15th legislative day, 4
531	531	after the succeeding session of Congress first con-5
532	532	venes; and 6
533	533	‘‘(ii) a report on such rule were submitted to 7
534	534	Congress under subsection (a)(1) on such date. 8
535	535	‘‘(B) Nothing in this paragraph shall be construed 9
536	536	to affect the requirement under subsection (a)(1) that a 10
537	537	report shall be submitted to Congress before a rule can 11
538	538	take effect. 12
539	539	‘‘(3) A rule described under paragraph (1) shall take 13
540	540	effect as otherwise provided by law (including other sub-14
541	541	sections of this section). 15
542	542	‘‘§ 802. Congressional approval procedure for major 16
543	543	rules 17
544	544	‘‘(a)(1) For purposes of this section, the term ‘joint 18
545	545	resolution’ means only a joint resolution addressing a re-19
546	546	port classifying a rule as major pursuant to section 20
547	547	801(a)(1)(A)(iii) that— 21
548	548	‘‘(A) bears no preamble; 22
549	549	‘‘(B) bears the following title (with blanks filled 23
550	550	as appropriate): ‘Approving the rule submitted by 24
551	551	lll relating to lll.’; 25
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555	555	‘‘(C) includes after its resolving clause only the 1
556	556	following (with blanks filled as appropriate): ‘That 2
557	557	Congress approves the rule submitted by lll re-3
558	558	lating to lll.’; and 4
559	559	‘‘(D) is introduced pursuant to paragraph (2). 5
560	560	‘‘(2) After a House of Congress receives a report 6
561	561	classifying a rule as major pursuant to section 7
562	562	801(a)(1)(A)(iii), the majority leader of that House (or 8
563	563	his or her respective designee) shall introduce (by request, 9
564	564	if appropriate) a joint resolution described in paragraph 10
565	565	(1)— 11
566	566	‘‘(A) in the case of the House of Representa-12
567	567	tives, within 3 legislative days; and 13
568	568	‘‘(B) in the case of the Senate, within 3 session 14
569	569	days. 15
570	570	‘‘(3) A joint resolution described in paragraph (1) 16
571	571	shall not be subject to amendment at any stage of pro-17
572	572	ceeding. 18
573	573	‘‘(b) A joint resolution described in subsection (a) 19
574	574	shall be referred in each House of Congress to the commit-20
575	575	tees having jurisdiction over the provision of law under 21
576	576	which the rule is issued. 22
577	577	‘‘(c) In the Senate, if the committee or committees 23
578	578	to which a joint resolution described in subsection (a) has 24
579	579	been referred have not reported it at the end of 15 session 25
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582	582	•S 5242 IS
583	583	days after its introduction, such committee or committees 1
584	584	shall be automatically discharged from further consider-2
585	585	ation of the resolution and it shall be placed on the cal-3
586	586	endar. A vote on final passage of the resolution shall be 4
587	587	taken on or before the close of the 15th session day after 5
588	588	the resolution is reported by the committee or committees 6
589	589	to which it was referred, or after such committee or com-7
590	590	mittees have been discharged from further consideration 8
591	591	of the resolution. 9
592	592	‘‘(d)(1) In the Senate, when the committee or com-10
593	593	mittees to which a joint resolution is referred have re-11
594	594	ported, or when a committee or committees are discharged 12
595	595	(under subsection (c)) from further consideration of a 13
596	596	joint resolution described in subsection (a), it is at any 14
597	597	time thereafter in order (even though a previous motion 15
598	598	to the same effect has been disagreed to) for a motion 16
599	599	to proceed to the consideration of the joint resolution, and 17
600	600	all points of order against the joint resolution (and against 18
601	601	consideration of the joint resolution) are waived. The mo-19
602	602	tion is not subject to amendment, or to a motion to post-20
603	603	pone, or to a motion to proceed to the consideration of 21
604	604	other business. A motion to reconsider the vote by which 22
605	605	the motion is agreed to or disagreed to shall not be in 23
606	606	order. If a motion to proceed to the consideration of the 24
607	607	joint resolution is agreed to, the joint resolution shall re-25
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610	610	•S 5242 IS
611	611	main the unfinished business of the Senate until disposed 1
612	612	of. 2
613	613	‘‘(2) In the Senate, debate on the joint resolution, 3
614	614	and on all debatable motions and appeals in connection 4
615	615	therewith, shall be limited to not more than 2 hours, which 5
616	616	shall be divided equally between those favoring and those 6
617	617	opposing the joint resolution. A motion to further limit 7
618	618	debate is in order and not debatable. An amendment to, 8
619	619	or a motion to postpone, or a motion to proceed to the 9
620	620	consideration of other business, or a motion to recommit 10
621	621	the joint resolution is not in order. 11
622	622	‘‘(3) In the Senate, immediately following the conclu-12
623	623	sion of the debate on a joint resolution described in sub-13
624	624	section (a), and a single quorum call at the conclusion of 14
625	625	the debate if requested in accordance with the rules of the 15
626	626	Senate, the vote on final passage of the joint resolution 16
627	627	shall occur. 17
628	628	‘‘(4) Appeals from the decisions of the Chair relating 18
629	629	to the application of the rules of the Senate to the proce-19
630	630	dure relating to a joint resolution described in subsection 20
631	631	(a) shall be decided without debate. 21
632	632	‘‘(e) In the House of Representatives, if any com-22
633	633	mittee to which a joint resolution described in subsection 23
634	634	(a) has been referred has not reported it to the House 24
635	635	at the end of 15 legislative days after its introduction, 25
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638	638	•S 5242 IS
639	639	such committee shall be discharged from further consider-1
640	640	ation of the joint resolution, and it shall be placed on the 2
641	641	appropriate calendar. On the second and fourth Thursdays 3
642	642	of each month it shall be in order at any time for the 4
643	643	Speaker to recognize a Member who favors passage of a 5
644	644	joint resolution that has appeared on the calendar for at 6
645	645	least 5 legislative days to call up that joint resolution for 7
646	646	immediate consideration in the House without intervention 8
647	647	of any point of order. When so called up a joint resolution 9
648	648	shall be considered as read and shall be debatable for 1 10
649	649	hour equally divided and controlled by the proponent and 11
650	650	an opponent, and the previous question shall be considered 12
651	651	as ordered to its passage without intervening motion. It 13
652	652	shall not be in order to reconsider the vote on passage. 14
653	653	If a vote on final passage of the joint resolution has not 15
654	654	been taken by the third Thursday on which the Speaker 16
655	655	may recognize a Member under this subsection, such vote 17
656	656	shall be taken on that day. 18
657	657	‘‘(f)(1) If, before passing a joint resolution described 19
658	658	in subsection (a), one House receives from the other a 20
659	659	joint resolution having the same text, then— 21
660	660	‘‘(A) the joint resolution of the other House 22
661	661	shall not be referred to a committee; and 23
662	662	‘‘(B) the procedure in the receiving House shall 24
663	663	be the same as if no joint resolution had been re-25
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666	666	•S 5242 IS
667	667	ceived from the other House until the vote on pas-1
668	668	sage, when the joint resolution received from the 2
669	669	other House shall supplant the joint resolution of 3
670	670	the receiving House. 4
671	671	‘‘(2) This subsection shall not apply to the House of 5
672	672	Representatives if the joint resolution received from the 6
673	673	Senate is a revenue measure. 7
674	674	‘‘(g) If either House has not taken a vote on final 8
675	675	passage of the joint resolution by the last day of the period 9
676	676	described in section 801(b)(2), then such vote shall be 10
677	677	taken on that day. 11
678	678	‘‘(h) This section and section 803 are enacted by 12
679	679	Congress— 13
680	680	‘‘(1) as an exercise of the rulemaking power of 14
681	681	the Senate and House of Representatives, respec-15
682	682	tively, and as such are deemed to be part of the 16
683	683	rules of each House, respectively, but applicable only 17
684	684	with respect to the procedure to be followed in that 18
685	685	House in the case of a joint resolution described in 19
686	686	subsection (a) and superseding other rules only 20
687	687	where explicitly so; and 21
688	688	‘‘(2) with full recognition of the constitutional 22
689	689	right of either House to change the rules (so far as 23
690	690	they relate to the procedure of that House) at any 24
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693	693	•S 5242 IS
694	694	time, in the same manner and to the same extent as 1
695	695	in the case of any other rule of that House. 2
696	696	‘‘§ 803. Congressional disapproval procedure for 3
697	697	nonmajor rules 4
698	698	‘‘(a) For purposes of this section, the term ‘joint res-5
699	699	olution’ means only a joint resolution introduced in the 6
700	700	period beginning on the date on which the report referred 7
701	701	to in section 801(a)(1)(A) is received by Congress and 8
702	702	ending 60 days thereafter (excluding days either House 9
703	703	of Congress is adjourned for more than 3 days during a 10
704	704	session of Congress), the matter after the resolving clause 11
705	705	of which is as follows: ‘That Congress disapproves the 12
706	706	nonmajor rule submitted by the lll relating to 13
707	707	lll, and such rule shall have no force or effect.’ (The 14
708	708	blank spaces being appropriately filled in). 15
709	709	‘‘(b) A joint resolution described in subsection (a) 16
710	710	shall be referred to the committees in each House of Con-17
711	711	gress with jurisdiction. 18
712	712	‘‘(c) In the Senate, if the committee to which is re-19
713	713	ferred a joint resolution described in subsection (a) has 20
714	714	not reported such joint resolution (or an identical joint 21
715	715	resolution) at the end of 15 session days after the date 22
716	716	of introduction of the joint resolution, such committee may 23
717	717	be discharged from further consideration of such joint res-24
718	718	olution upon a petition supported in writing by 30 Mem-25
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722	722	bers of the Senate, and such joint resolution shall be 1
723	723	placed on the calendar. 2
724	724	‘‘(d)(1) In the Senate, when the committee to which 3
725	725	a joint resolution is referred has reported, or when a com-4
726	726	mittee is discharged (under subsection (c)) from further 5
727	727	consideration of a joint resolution described in subsection 6
728	728	(a), it is at any time thereafter in order (even though a 7
729	729	previous motion to the same effect has been disagreed to) 8
730	730	for a motion to proceed to the consideration of the joint 9
731	731	resolution, and all points of order against the joint resolu-10
732	732	tion (and against consideration of the joint resolution) are 11
733	733	waived. The motion is not subject to amendment, or to 12
734	734	a motion to postpone, or to a motion to proceed to the 13
735	735	consideration of other business. A motion to reconsider the 14
736	736	vote by which the motion is agreed to or disagreed to shall 15
737	737	not be in order. If a motion to proceed to the consideration 16
738	738	of the joint resolution is agreed to, the joint resolution 17
739	739	shall remain the unfinished business of the Senate until 18
740	740	disposed of. 19
741	741	‘‘(2) In the Senate, debate on the joint resolution, 20
742	742	and on all debatable motions and appeals in connection 21
743	743	therewith, shall be limited to not more than 10 hours, 22
744	744	which shall be divided equally between those favoring and 23
745	745	those opposing the joint resolution. A motion to further 24
746	746	limit debate is in order and not debatable. An amendment 25
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750	750	to, or a motion to postpone, or a motion to proceed to 1
751	751	the consideration of other business, or a motion to recom-2
752	752	mit the joint resolution is not in order. 3
753	753	‘‘(3) In the Senate, immediately following the conclu-4
754	754	sion of the debate on a joint resolution described in sub-5
755	755	section (a), and a single quorum call at the conclusion of 6
756	756	the debate if requested in accordance with the rules of the 7
757	757	Senate, the vote on final passage of the joint resolution 8
758	758	shall occur. 9
759	759	‘‘(4) Appeals from the decisions of the Chair relating 10
760	760	to the application of the rules of the Senate to the proce-11
761	761	dure relating to a joint resolution described in subsection 12
762	762	(a) shall be decided without debate. 13
763	763	‘‘(e) In the Senate, the procedure specified in sub-14
764	764	section (c) or (d) shall not apply to the consideration of 15
765	765	a joint resolution respecting a nonmajor rule— 16
766	766	‘‘(1) after the expiration of the 60 session days 17
767	767	beginning with the applicable submission or publica-18
768	768	tion date; or 19
769	769	‘‘(2) if the report under section 801(a)(1)(A) 20
770	770	was submitted during the period referred to in sec-21
771	771	tion 801(d)(1), after the expiration of the 60 session 22
772	772	days beginning on the 15th session day after the 23
773	773	succeeding session of Congress first convenes. 24
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777	777	‘‘(f) If, before the passage by one House of a joint 1
778	778	resolution of that House described in subsection (a), that 2
779	779	House receives from the other House a joint resolution 3
780	780	described in subsection (a), then the following procedures 4
781	781	shall apply: 5
782	782	‘‘(1) The joint resolution of the other House 6
783	783	shall not be referred to a committee. 7
784	784	‘‘(2) With respect to a joint resolution described 8
785	785	in subsection (a) of the House receiving the joint 9
786	786	resolution— 10
787	787	‘‘(A) the procedure in that House shall be 11
788	788	the same as if no joint resolution had been re-12
789	789	ceived from the other House; but 13
790	790	‘‘(B) the vote on final passage shall be on 14
791	791	the joint resolution of the other House. 15
792	792	‘‘§ 804. Definitions 16
793	793	‘‘For purposes of this chapter: 17
794	794	‘‘(1) The term ‘Federal agency’ means— 18
795	795	‘‘(A) the Board of Governors of the Fed-19
796	796	eral Reserve System; 20
797	797	‘‘(B) the Securities and Exchange Commis-21
798	798	sion; 22
799	799	‘‘(C) the Commodity Futures Trading 23
800	800	Commission; 24
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804	804	‘‘(D) the Federal Deposit Insurance Cor-1
805	805	poration; 2
806	806	‘‘(E) the Bureau of Consumer Financial 3
807	807	Protection; 4
808	808	‘‘(F) the Department of the Treasury, in-5
809	809	cluding the Office of the Comptroller of the 6
810	810	Currency and the Financial Crimes Enforce-7
811	811	ment Network; or 8
812	812	‘‘(G) the National Credit Union Adminis-9
813	813	tration. 10
814	814	‘‘(2) The term ‘major rule’ means any rule, in-11
815	815	cluding an interim final rule, that the Administrator 12
816	816	of the Office of Information and Regulatory Affairs 13
817	817	of the Office of Management and Budget or the 14
818	818	Federal agency promulgating such rule finds has re-15
819	819	sulted in or is likely to result in— 16
820	820	‘‘(A) an annual effect on the economy of 17
821	821	$100 million or more; 18
822	822	‘‘(B) a major increase in costs or prices for 19
823	823	consumers, individual industries, Federal, 20
824	824	State, or local government agencies, or geo-21
825	825	graphic regions; 22
826	826	‘‘(C) significant adverse effects on competi-23
827	827	tion, employment, investment, productivity, in-24
828	828	novation, or the ability of United States-based 25
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832	832	enterprises to compete with foreign-based enter-1
833	833	prises in domestic and export markets; or 2
834	834	‘‘(D) in an increase in mandatory vaccina-3
835	835	tions. 4
836	836	‘‘(3) The term ‘nonmajor rule’ means any rule 5
837	837	that is not a major rule. 6
838	838	‘‘(4) The term ‘rule’ has the meaning given the 7
839	839	term in section 551, except that the term— 8
840	840	‘‘(A) includes interpretative rules, general 9
841	841	statements of policy, and all other agency guid-10
842	842	ance documents; and 11
843	843	‘‘(B) does not include— 12
844	844	‘‘(i) any rule of particular applica-13
845	845	bility, including a rule that approves or 14
846	846	prescribes for the future rates, wages, 15
847	847	prices, services, or allowances therefore, 16
848	848	corporate or financial structures, reorga-17
849	849	nizations, mergers, or acquisitions thereof, 18
850	850	or accounting practices or disclosures bear-19
851	851	ing on any of the foregoing; 20
852	852	‘‘(ii) any rule relating to agency man-21
853	853	agement or personnel; or 22
854	854	‘‘(iii) any rule of agency organization, 23
855	855	procedure, or practice that does not sub-24
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858	858	•S 5242 IS
859	859	stantially affect the rights or obligations of 1
860	860	non-agency parties. 2
861	861	‘‘(5) The term ‘submission or publication date’, 3
862	862	except as otherwise provided in this chapter, 4
863	863	means— 5
864	864	‘‘(A) in the case of a major rule, the date 6
865	865	on which the Congress receives the report sub-7
866	866	mitted under section 801(a)(1); and 8
867	867	‘‘(B) in the case of a nonmajor rule, the 9
868	868	later of— 10
869	869	‘‘(i) the date on which the Congress 11
870	870	receives the report submitted under section 12
871	871	801(a)(1); and 13
872	872	‘‘(ii) the date on which the nonmajor 14
873	873	rule is published in the Federal Register, if 15
874	874	so published. 16
875	875	‘‘§ 805. Judicial review 17
876	876	‘‘(a) I
877	877	NGENERAL.—No determination, finding, ac-18
878	878	tion, or omission under this chapter shall be subject to 19
879	879	judicial review. 20
880	880	‘‘(b) E
881	881	XCEPTION.—Notwithstanding subsection (a), a 21
882	882	court may determine whether a Federal agency has com-22
883	883	pleted the necessary requirements under this chapter for 23
884	884	a rule to take effect. 24
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887	887	•S 5242 IS
888	888	‘‘(c) RULE OFCONSTRUCTION.—The enactment of a 1
889	889	joint resolution of approval under section 802 shall not 2
890	890	be interpreted to serve as a grant or modification of statu-3
891	891	tory authority by Congress for the promulgation of a rule, 4
892	892	shall not extinguish or affect any claim, whether sub-5
893	893	stantive or procedural, against any alleged defect in a rule, 6
894	894	and shall not form part of the record before the court in 7
895	895	any judicial proceeding concerning a rule except for pur-8
896	896	poses of determining whether or not the rule is in effect. 9
897	897	‘‘§ 806. Exemption for monetary policy 10
898	898	‘‘Nothing in this chapter shall apply to rules that con-11
899	899	cern monetary policy proposed or implemented by the 12
900	900	Board of Governors of the Federal Reserve System or the 13
901	901	Federal Open Market Committee. 14
902	902	‘‘§ 807. Effective date of certain rules 15
903	903	‘‘Notwithstanding section 801— 16
904	904	‘‘(1) any rule that establishes, modifies, opens, 17
905	905	closes, or conducts a regulatory program for a com-18
906	906	mercial, recreational, or subsistence activity related 19
907	907	to hunting, fishing, or camping; or 20
908	908	‘‘(2) any rule other than a major rule which an 21
909	909	agency for good cause finds (and incorporates the 22
910	910	finding and a brief statement of reasons therefore in 23
911	911	the rule issued) that notice and public procedure 24
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914	914	•S 5242 IS
915	915	thereon are impracticable, unnecessary, or contrary 1
916	916	to the public interest, 2
917	917	shall take effect at such time as the Federal agency pro-3
918	918	mulgating the rule determines. 4
919	919	‘‘§ 808. Review of rules currently in effect 5
920	920	‘‘(a) A
921	921	NNUALREVIEW.—Beginning on the date that 6
922	922	is 180 days after the date of enactment of this section, 7
923	923	and annually thereafter for the 4 years following, each 8
924	924	agency shall designate not less than 20 percent of eligible 9
925	925	rules made by that agency for review and shall submit a 10
926	926	report including each such eligible rule in the same man-11
927	927	ner as a report under section 801(a)(1). Sections 801, 12
928	928	802, and 803 shall apply to each such rule, subject to sub-13
929	929	section (c) of this section. No eligible rule previously des-14
930	930	ignated may be designated again. 15
931	931	‘‘(b) S
932	932	UNSET FOR ELIGIBLERULESNOTEX-16
933	933	TENDED.—Beginning after the date that is 5 years after 17
934	934	the date of enactment of this section, if Congress has not 18
935	935	enacted a joint resolution of approval for that eligible rule, 19
936	936	that eligible rule shall not continue in effect. 20
937	937	‘‘(c) A
938	938	PPROVAL OFRULES.— 21
939	939	‘‘(1) I
940	940	N GENERAL.—Unless Congress approves 22
941	941	all eligible rules designated by executive agencies for 23
942	942	review within 90 days of designation, they shall have 24
943	943	no effect. 25
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946	946	•S 5242 IS
947	947	‘‘(2) FORMATTING.—A single joint resolution of 1
948	948	approval shall apply to all eligible rules in a report 2
949	949	designated for a year as follows: ‘That Congress ap-3
950	950	proves the rules submitted by thelll for the 4
951	951	year lll.’ (The blank spaces being appropriately 5
952	952	filled in). 6
953	953	‘‘(3) P
954	954	ROCEDURE.—A member of either House 7
955	955	may move that a separate joint resolution be re-8
956	956	quired for a specified rule. 9
957	957	‘‘(d) D
958	958	EFINITION.—In this section, the term ‘eligible 10
959	959	rule’ means a rule that is in effect as of the date of enact-11
960	960	ment of this section.’’. 12
961	961	(b) T
962	962	ECHNICAL AND CONFORMINGAMENDMENT.— 13
963	963	The chapter heading for chapter 8 of title 5, United States 14
964	964	Code, is amended by inserting ‘‘CERTAIN’’ after 15
965	965	‘‘OF’’. 16
966	966	SEC. 503. BUDGETARY EFFECTS OF RULES SUBJECT TO 17
967	967	SECTION 802 OF TITLE 5, UNITED STATES 18
968	968	CODE. 19
969	969	Section 257(b)(2) of the Balanced Budget and Emer-20
970	970	gency Deficit Control Act of 1985 (2 U.S.C. 907(b)(2)) 21
971	971	is amended by adding at the end the following new sub-22
972	972	paragraph: 23
973	973	‘‘(E) B
974	974	UDGETARY EFFECTS OF RULES 24
975	975	SUBJECT TO SECTION 802 OF TITLE 5 , UNITED 25
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978	978	•S 5242 IS
979	979	STATES CODE.—Any rule subject to the con-1
980	980	gressional approval procedure set forth in sec-2
981	981	tion 802 of chapter 8 of title 5, United States 3
982	982	Code, affecting budget authority, outlays, or re-4
983	983	ceipts shall be assumed to be effective unless it 5
984	984	is not approved in accordance with such sec-6
985	985	tion.’’. 7
986	986	SEC. 504. GOVERNMENT ACCOUNTABILITY OFFICE STUDY 8
987	987	OF RULES. 9
988	988	(a) I
989	989	NGENERAL.—The Comptroller General of the 10
990	990	United States shall conduct a study to determine, as of 11
991	991	the date of the enactment of this Act— 12
992	992	(1) how many rules (as that term is defined in 13
993	993	section 804 of title 5, United States Code, as added 14
994	994	by this title) were in effect; 15
995	995	(2) how many major rules (as that term is de-16
996	996	fined in section 804 of title 5, United States Code, 17
997	997	as added by this title) were in effect; and 18
998	998	(3) the total estimated economic cost imposed 19
999	999	by all such rules. 20
1000	1000	(b) R
1001	1001	EPORT.—Not later than 1 year after the date 21
1002	1002	of enactment of this Act, the Comptroller General of the 22
1003	1003	United States shall submit to Congress, and publish on 23
1004	1004	the website of the Government Accountability Office, a re-24
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1007	1007	•S 5242 IS
1008	1008	port that contains the findings of the study conducted 1
1009	1009	under subsection (a). 2
1010	1010	TITLE VI—SUSPICIOUS ACTIVITY 3
1011	1011	SEC. 601. CRIMINAL PENALTIES. 4
1012	1012	The Right to Financial Privacy Act of 1978 (12 5
1013	1013	U.S.C. 3401 et seq.) is amended by inserting after section 6
1014	1014	1116 (12 U.S.C. 3416) the following: 7
1015	1015	‘‘
1016	1016	CRIMINAL PENALTIES 8
1017	1017	‘‘S
1018	1018	EC. 1116A. (a) Except as provided in subsection 9
1019	1019	(b), any agency or department of the United States or fi-10
1020	1020	nancial institution knowingly obtaining or knowingly dis-11
1021	1021	closing financial records or information contained therein 12
1022	1022	in violation of this title shall be fined in any amount not 13
1023	1023	exceeding $5,000, or imprisoned not more than 5 years, 14
1024	1024	or both, together with the costs of prosecution, and if such 15
1025	1025	offense is committed by any officer or employee of the 16
1026	1026	United States, the officer or employee shall, in addition 17
1027	1027	to any other punishment, be dismissed from office or dis-18
1028	1028	charged from employment upon conviction for such of-19
1029	1029	fense. 20
1030	1030	‘‘(b) Any financial institution or agent or employee 21
1031	1031	thereof making a disclosure of financial records pursuant 22
1032	1032	to this title in good-faith reliance upon a certificate by any 23
1033	1033	Government authority or pursuant to the provisions of sec-24
1034	1034	tion 1113(l) shall not be subject to prosecution under sub-25
1035	1035	section (a).’’. 26
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1038	1038	•S 5242 IS
1039	1039	SEC. 602. CIVIL PENALTIES. 1
1040	1040	Section 1117(a) of the Right to Financial Privacy Act 2
1041	1041	of 1978 (12 U.S.C. 3417(a)) is amended by striking para-3
1042	1042	graphs (1) through (4) and inserting the following: 4
1043	1043	‘‘(1) not less than $1,000 per violation per day; 5
1044	1044	‘‘(2) reasonable attorney’s fees and litigation 6
1045	1045	costs; and 7
1046	1046	‘‘(3) compensatory damages.’’. 8
1047	1047	SEC. 603. OTHER RELIEF. 9
1048	1048	The Right to Financial Privacy Act of 1978 (12 10
1049	1049	U.S.C. 3401 et seq.) is amended by inserting after section 11
1050	1050	1118 (12 U.S.C. 3418) the following: 12
1051	1051	‘‘
1052	1052	OTHER RELIEF 13
1053	1053	‘‘S
1054	1054	EC. 1118A. In addition to any other remedy con-14
1055	1055	tained in this title, a writ of mandamus and all other ap-15
1056	1056	propriate relief, including any equitable or declaratory re-16
1057	1057	lief, shall be available to require that the procedures of 17
1058	1058	this title are complied with.’’. 18
1059	1059	Æ
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