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119th CONGRESS
1st Session |
To amend the Bank Secrecy Act to exempt transactions with respect to cash reward payments by crime stopper organizations from certain currency transaction reports.
Mr. Guest introduced the following bill; which was referred to the Committee on Financial Services
To amend the Bank Secrecy Act to exempt transactions with respect to cash reward payments by crime stopper organizations from certain currency transaction reports.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. Crime stopper organizations.
Section 5313(d) of title 31, United States Code, is amended by adding at the end the following:
“(3) CRIME STOPPER ORGANIZATIONS.—The Secretary of the Treasury shall exempt a depository institution from the reporting requirements of subsection (a) with respect to a transaction between the depository institution and a nonprofit organization if the transaction is in connection with the nonprofit organization providing a cash reward in exchange for information about a crime.”.