A bill to provide for a good faith exemption from suspicious activity reporting requirements, and for other purposes.
Latest action · May 25, 2011 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 25, 2011
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Declares that failure by a financial institution or any of its directors, officers, employees, or agents to report a suspicious transaction is not a violation of specified monetary transaction reporting requirements if the institution or person has: (1) in effect an established decision-making process with respect to suspicious transactions, (2) made a good faith effort to follow existing policies, procedures, and processes with respect to such transactions; and (3) determined not to file a report with respect to a particular transaction.
Deems failure to submit a suspicious transaction report to be a violation of such reporting requirements if it is accompanied by evidence of bad faith on the part of either the financial institution or other person.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Banking, Housing, and Urban Affairs Committee | Referred May 26, 2011 |
Actions 2
Everything that happened, newest first.
- May 25, 2011Introduced in Senate
- May 25, 2011Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1071 | A bill to limit suspicious activity reporting requirements to requests from law enforcement agencies, and for other purposes. | Related bill | May 25, 2011 |
Titles 1
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to provide for a good faith exemption from suspicious activity reporting requirements, and for other purposes.
Subjects
Assigned by the Library of Congress. Policy area: Crime and Law Enforcement.
Text 1
Each version as it was printed, newest first.
- May 25, 2011Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
