[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9315 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 9315

     To direct the Secretary of the Treasury to submit a report on 
    coordination in the public and private sectors in responding to 
 ransomware attacks on financial institutions, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             August 6, 2024

   Mr. Nunn of Iowa (for himself and Mr. Gottheimer) introduced the 
   following bill; which was referred to the Committee on Financial 
                                Services

_______________________________________________________________________

                                 A BILL


 
     To direct the Secretary of the Treasury to submit a report on 
    coordination in the public and private sectors in responding to 
 ransomware attacks on financial institutions, and for other purposes.

    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 ``Public and Private Sector Ransomware 
Response Coordination Act of 2024''.

SEC. 2. REPORT ON COORDINATION IN THE PUBLIC AND PRIVATE SECTORS IN 
              RESPONDING TO RANSOMWARE ATTACKS ON FINANCIAL 
              INSTITUTIONS.

    (a) In General.--Not later than one year after the date of the 
enactment of this section, the Secretary of the Treasury shall submit 
to the appropriate congressional committees a report that describes the 
following:
            (1) The current level of coordination and collaboration 
        between the public and private sectors, including entities in 
        the public and private sectors that manage cybersecurity, in 
        response to, and for the prevention of, a ransomware attack on 
        a financial institution.
            (2) The coordination among relevant governmental agencies 
        in response to, and for the prevention of, a ransomware attack 
        on a financial institution.
            (3) Whether relevant governmental agencies have timely 
        access to relevant information reported by a financial 
        institution following a ransomware attack on the financial 
        institution.
            (4) The utility of such information to any relevant 
        governmental agency in the prevention or investigation of a 
        ransomware attack on a financial institution, or the 
        prosecution of a person responsible for such attack.
            (5) An analysis of reporting requirements applicable to a 
        financial institution with respect to a ransomware attack in 
        relation to the utility to any relevant governmental agency of 
        the reported information in the prevention or investigation of 
        a ransomware attack on a financial institution, or the 
        prosecution of a person responsible for such attack.
            (6) Whether further legislation is required to increase the 
        utility and timely access of such information to any relevant 
        governmental agency following a ransomware attack on a 
        financial institution.
            (7) Any recommended policy initiatives to bolster public-
        private partnerships, increase incident report sharing, and 
        decrease incident response time.
            (8) The extent to which, and reasons that, financial 
        institutions withhold or delay reporting to relevant 
        governmental agencies information about a ransomware attack.
            (9) Any feedback on the contents of the report received 
        from cybersecurity and ransomware response entities that 
        provide services to financial institutions.
    (b) Form of Report.--The report described in subsection (a) shall 
be submitted in unclassified form, but may include a classified annex.
    (c) Briefing.--Not later than 15 months after the date of the 
enactment of this section, the Secretary of the Treasury shall brief 
the appropriate congressional committees on the findings of the report 
described in subsection (a).
    (d) Definitions.--In this section:
            (1) Appropriate congressional committees.--The term 
        ``appropriate congressional committees'' means--
                    (A) the Committee on Financial Services of the 
                House of Representatives;
                    (B) the Permanent Select Committee on Intelligence 
                of the House of Representatives;
                    (C) the Committee on Banking, Housing, and Urban 
                Affairs of the Senate; and
                    (D) the Select Committee on Intelligence of the 
                Senate.
            (2) Cybersecurity and ransomware incident response 
        entity.--The term ``cybersecurity and ransomware incident 
        response entity'' means an entity that provides incident 
        responses, managed services, or advisory services that--
                    (A) supports investigation and risk management 
                related to ransomware attacks in the public and private 
                sectors;
                    (B) strengthens cybersecurity technology in the 
                financial sector; and
                    (C) reduces overall cyber risk in the financial 
                sector by assessing the security posture of a financial 
                institution, assisting a financial institution with 
                regulatory compliance, and providing recommendations to 
                a financial institution for recovery after a ransomware 
                attack and prevention of any future attacks.
            (3) Financial institution.--The term ``financial 
        institution'' has the meaning given that term under section 
        5312(a) of title 31, United States Code.
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