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Titles (1)

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to provide for a good faith exemption from suspicious activity reporting requirements, and for other purposes.

Actions Overview (1)

Date Actions Overview
05/25/2011Introduced in Senate

All Actions (1)

Date All Actions
05/25/2011Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Action By: Senate

Cosponsors (0)

No cosponsors.

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
Senate Banking, Housing, and Urban Affairs05/25/2011 Referred to

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Subjects (3)

Latest Summary (1)

There is one summary for S.1072. View summaries

Shown Here:
Introduced in Senate (05/25/2011)

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.