H.R. 5783 — what changed

“5333. Safe harbor with respect to keep open letters

changed “With “(a) In general—With respect to a customer account of a financial institution, if a Federal Federal, State, Tribal, or State local law enforcement agency requests, in writing, the financial institution to keep such account open—

“(1) the financial institution shall not be liable under this subchapter for maintaining such account consistent with the parameters of the request; and

changed “(2) 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 consistent with the parameters of the request.”request.

added “(b) Rule of construction—Nothing in this section may be construed—

added “(1) from preventing a Federal or State department or agency from verifying the validity of a written request described under subsection (a) with the Federal, State, Tribal, or local law enforcement agency making the written request; or

added “(2) to relieve a financial institution from complying with any reporting requirements, including the reporting of suspicious transactions under section 5318(g).

added “(c) Letter termination date—For purposes of this section, any written request described under subsection (a) shall include a termination date after which such request shall no longer apply.”