#aaeth ,,congress #b;d ,session ,h4 ,r4 #fgbi ,,an ,,act ,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 authorities1 under a safe harbor that offers protections from liability1 in order to better identify and report potential human trafficking or money laundering activities4 #a4 ,short title ,this ,act may be cited as the ,empowering ,financial ,institutions to ,fight ,human ,trafficking ,act of #bjah4 #b4 ,anti-,money ,laundering ,information ,providers 7a7 ,in general ,subchapter ,,ii of chapter #ec of title #ca1 ,united ,states ,code1 is amended by adding at the end the following3 #eccc4 ,anti-money laundering information providers 7a7 ,cooperation among financial institutions and sources of information on human trafficking and money laundering 7#a7 ,in general ,not later than the end of the #abj-;day period beginning on the date of enactment of this section1 the ,secretary of the ,treasury shall issue regulations to allow nonprofit organizations that the ,secretary determines to be qualified to share information with financial institutions1 associations of financial institutions1 their regulatory authorities1 and law enforcement agencies regarding individuals1 entities1 organizations1 and countries suspected of possible human trafficking or related money laundering activities4 7#b7 ,cooperation and information sharing procedures ,the regulations required under paragraph 7#a7 may include or create procedures for cooperation and information sharing focused on-- 7,a7 matters specifically related to those benefitting directly and indirectly from human trafficking1 the means by which human traffickers transfer funds within the ,united ,states and around the world1 and the extent to which financial institutions1 including depository institutions1 asset managers1 and insurers in the ,united ,states1 are unwittingly involved in such matters or transfers and the extent to which such entities are at risk as a result2 and 7,b7 means of facilitating the identification of accounts and transactions involving human traffickers and facilitating the exchange of information concerning such accounts and transactions between nonprofit organizations1 financial institutions1 regulatory authorities1 and law enforcement agencies4 7#c7 ,method of regulation ,the regulations required under paragraph 7#a7 may-- 7,a7 be made coextensive with the regulations adopted pursuant to other programs1 regulated by the ,secretary1 for sharing information on unlawful activities between financial institutions2 7,b7 establish a registration process overseen by the ,secretary that-- 7i7 requires a nonprofit organization to demonstrate that they meet certain qualifications that the ,secretary determines appropriate1 including the establishment of policies and procedures reasonably designed to ensure the prompt identification and correction of inaccurate information shared under paragraph 7#a72 7ii7 allows the ,secretary to disqualify nonprofit organizations that do not meet such qualifications2 and 7iii7 allows the ,secretary to terminate the registration of a nonprofit organization at any point if the ,secretary determines such termination is appropriate and provides sufficient notice of such termination to the applicable nonprofit organization2 7,c7 require a nonprofit organization to register with the ,secretary before sharing information that will be subject to the safe harbor provided under subsection 7b72 and 7,d7 ensure that financial institutions1 associations of financial institutions1 their regulatory authorities1 law enforcement authorities1 and any other appropriate entities are made aware of those nonprofit organizations that are registered with the ,secretary4 7#d7 ,recipients of information 7,a7 ,in general ,the ,secretary shall determine those financial institutions which are eligible to be recipients of information from nonprofit organizations made in compliance with the regulations issued under subsection 7a74 ,such eligible financial institutions may include those already participating in existing information sharing programs regulated by the ,secretary regarding unlawful activity4 7,b7 ,no safe harbor for information provided to other financial institutions ,if a nonprofit organization shares information with a financial institution that is not eligible under subparagraph 7,a71 such sharing of information shall not be subject to the safe harbor provided under subsection 7b74 7#e7 ,information sharing between financial institutions ,the regulations adopted pursuant to this section-- 7,a7 may be coextensive with other regulations governing the sharing of information between financial institutions on suspected unlawful activities2 and 7,b7 shall allow financial institutions that receive information in compliance with the regulations issued under subsection 7a7 to share such information with other financial institutions through existing information sharing programs4 7b7 ,safe harbor for information providers 7#a7 ,in general ,a nonprofit organization1 financial institution1 association of financial institutions1 regulatory authority of a financial institution1 or law enforcement agency in compliance with the regulations issued under subsection 7a7 that transmits or shares information described under subsection 7a7 for the purposes of identifying or reporting activities that may involve human trafficking acts or related money laundering activities shall not be liable to any person under any law or regulation of the ,united ,states1 any constitution1 law1 or regulation of any ,state or political subdivision thereof1 or under any contract or other legally enforceable agreement 7including any arbitration agreement71 for such disclosure or for any failure to provide notice of such disclosure to the person who is the subject of such disclosure1 or any other person identified in the disclosure1 except where such transmission or sharing violates this section or regulations issued pursuant to this section4 7#b7 ,no good faith requirement ,a nonprofit organization1 financial institution1 association of financial institutions1 regulatory authority of a financial institution1 or law enforcement agency that transmits or shares information described under paragraph 7#a7 shall not be required to demonstrate that such transmission or sharing was made on a good faith basis in order to receive the benefit of the safe harbor provided by paragraph 7#a74 7c7 ,non-,mandatory compliance with this section ,this section may not be construed as requiring a nonprofit organization to comply with the regulations issued under subsection 7a7 before sharing information with a financial institution1 association of financial institutions1 regulatory authority of a financial institution1 or law enforcement agency4 7d7 ,reports to the financial services industry on suspicious financial activities ,beginning #aj months after the date of the enactment of this section1 and at least semiannually thereafter1 the ,secretary of the ,treasury shall-- 7#a7 publish a report containing a detailed analysis identifying patterns of suspicious activity and other investigative insights derived from the regulations issued under this section and investigations conducted by ,federal1 ,state1 local1 and ,tribal law enforcement agencies to the extent appropriate2 7#b7 distribute such report to financial institutions2 and 7#c7 provide such report upon publication to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate4 7e7 ,nonprofit organization defined ,for purposes of this section1 the term nonprofit organization means an organization described in section #eja7;c77#c7 of the ,internal ,revenue ,code of #aihf and exempt from taxation under section #eja7;a7 of such ,code4 4 7b7 ,clerical amendment ,the table of contents for chapter #ec of title #ca1 ,united ,states ,code1 is amended by inserting after the item relating to section #eccb the following3 #eccc4 ,anti-money laundering information providers4 4 ,passed the ,house of ,representatives ,september #bf1 #bjah4;,clerk4