[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5783 Introduced in House (IH)]

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115th CONGRESS
  2d Session
                                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.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 11, 2018

 Mr. Hill (for himself and Mr. Foster) introduced the following bill; 
       which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To provide a safe harbor for financial institutions that maintain a 
 customer account at the request of a Federal or State law enforcement 
                                agency.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

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:
``Sec. 5333. Safe harbor with respect to keep open letters
    ``With respect to a customer account of a financial institution, if 
a Federal or State 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 supervisory action with respect to the financial 
        institution for maintaining such account consistent with the 
        parameters of the request.''.
    (b) Clerical Amendment.--The table of contents for chapter 53 of 
title 31, United States Code, is amended by inserting after the item 
relating to section 5332 the following:

``5333. Safe harbor with respect to keep open letters.''.
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