PUBLIC LAW 100-690—NOV. 18, 1988
102 STAT. 4357
(A) INSTITUTIONS SUBJECT TO RECORDKEEPING REQUIRE-
MENT.—Section 123(b) of Public Law 91-508 (12 U.S.C. 1953(b)) is amended to read as follows: "(b) INSTITUTIONS SUBJECT TO RECORDKEEPING REQUIREMENTS.—
The authority of the Secretary of the Treasury under subsection (a) extends to any financial institution (as defined in section 5312(a)(2) of title 31, United States Code), other than any insured bank (as defined in section 3(h) of the Federal Deposit Insurance Act) and any insured institution (as defined in section 401(a) of the National Housing Act), and any partner, officer, director, or employee of any such financial institution.". (B) CIVIL PENALTIES.—Section 125(a) of Public Law 91-508
(12 U.S.C. 1955(a)) is amended— (i) by striking out "$1,000" and inserting in lieu thereof "$10,000^'; (ii) by inserting "or grossly negligent" after "willful"; and "(iii) by inserting "or through gross negligence" after "willfully". (e) DELEGATION OF ENFORCEMENT POWER TO POSTAL SERVICE.—
Section 5318(a)(l) of title 31, United States Code, is amended by inserting "and the Postal Service" after "appropriate supervising agency". (0 CLERICAL AMENDMENT.—The table of sections for chapter 53 of title 31, United States Code, is amended by adding at the end thereof the following new items: "5325. Identification required to purchase certain monetary instruments. "5326. Records of certain domestic coin and currency transactions.". (g) TECHNICAL CORRECTIONS.—
(1) Section 5312(a)(5) of title 31, United States Code, is amended— (A) by inserting a comma after "Puerto Rico"; and (B) by striking the second comma after "Pacific Islands". (2) The first sentence of section 5321(a)(l) of title 31, United States Code, is amended by inserting "(if any)" after "transaction". SEC. 6186. RIGHT TO FINANCIAL PRIVACY ACT AMENDMENTS. (a) CLARIFICATION OF RIGHT OF FINANCIAL INSTITUTIONS TO REPORT SUSPECTED VIOLATIONS.—Section 1103(c) of the Right to Financial
Privacy Act of 1978 (12 U.S.C. 3403(c)) is amended by inserting ", corporation," after "individual". (b) TRANSFER BY GOVERNMENT AGENCY OF RECORDS TO ATTORNEY GENERAL FOR CRIMINAL INVESTIGATION.—Section 1112 of the Right
to Financial Privacy Act of 1978 (12 U.S.C. 3412) is amended by adding at the end thereof the following new subsection: "(1) TRANSFER TO ATTORNEY GENERAL.—
"(1) IN GENERAL.—Nothing in this title shall apply when financial records obtained by an s^ency or department of the United States are disclosed or transferred to the Attorney General upon the certification by a supervisory level official of the transferring agency or department that— "(A) there is reason to believe that the records may be relevant to a violation of Federal criminal law; and "(B) the records were obtained in the exercise of the agency's or department's supervisory or regulatory functions.
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