,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #geh  ,,in ,,the ,,house ,,of   
,,representatives  ,january #bd1        
#bjai,mr4 ,hill of ,arkansas 7for       
himself and ,mr4 ,foster7 introduced the
 following bill2 which was referred to  
the ,committee on ,financial ,services  
,a ,,bill  ,to provide a safe harbor for
 financial institutions that maintain a 
customer account or customer transaction
 at the request of a ,federal or ,state 
law enforcement agency4  #a4 ,short     
title ,this ,act may be cited as the    
,cooperate with ,law ,enforcement       
,agencies and ,watch ,act of #bjai4  #b4
 ,safe harbor with respect to keep open 
letters  7a7 ,in general ,subchapter    
,,ii of chapter #ec of title #ca1       
,united ,states ,code1 is amended by    
adding at the end the following3  #eccc4
 ,safe harbor with respect to keep open 
letters  7a7 ,in general ,with respect  
to a customer account or customer       
transaction of a financial institution1 
if a ,federal1 ,state1 ,tribal1 or local

 law enforcement agency requests1 in    
writing1 the financial institution to   
keep such account or transaction open-- 
7#a7 the financial institution shall not
 be liable under this subchapter for    
maintaining such account or transaction 
consistent with the parameters of the   
request2 and  7#b7 no ,federal or ,state
 department or agency may take any      
adverse supervisory action under this   
subchapter with respect to the financial
 institution for maintaining such       
account or transaction consistent with  
the parameters of the request4  7b7     
,rule of construction ,nothing in this  
section may be construed--  7#a7 from   
preventing a ,federal or ,state         
department or agency from verifying the 
validity of a written request described 
under subsection 7a7 with the ,federal1 
,state1 ,tribal1 or local law           
enforcement agency making the written   
request2 or  7#b7 to relieve a financial
 institution from complying with any    
reporting requirements1 including the   

reporting of suspicious transactions    
under section #ecah7;g74  7c7 ,letter   
termination date ,for purposes of this  
section1 any written request described  
under subsection 7a7 shall include a    
termination date after which such       
request shall no longer apply4  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    
,safe harbor with respect to keep open  
letters4  4