Section 1 Short title
This Act may be cited as the “Timely Delivery of Bank Secrecy Act Reports Act”.
Timely Delivery of Bank Secrecy Act Reports Act
AN ACT
To amend title 31, United States Code, to require the timely production of reports to Congress under the Bank Secrecy Act, and for other purposes.
Sec. 2 Timely production of Bank Secrecy Act reports to Congress
Section 5319 of title 31, United States Code, is amended—
by striking “The Secretary of the Treasury” and inserting the following:
“(a) In general—The Secretary of the Treasury”
by adding at the end the following:
“(b) Timely production of reports to Congress
“(1) Production by the Secretary—Upon the request of the congressional committees or subcommittees of appropriate jurisdiction for any report filed under this subchapter, the Secretary of the Treasury shall deliver the requested report to the committee or subcommittee not later than 30 days after such request is made.
“(2) Production by a financial institution pursuant to a subpoena—Upon subpoena by the congressional committees or subcommittees of appropriate jurisdiction, a financial institution shall deliver a report filed under this subchapter by the financial institution, and any information on which such report is based, to the committee or subcommittee not later than the return date specified for such report in the subpoena.”