§1960 Safe harbor with respect to keep open directives

Summary

If a federal law enforcement agency tells FinCEN it plans to send a written request asking a bank or similar financial firm to keep a customer’s account or transaction open, or if a state, tribal, or local agency sends that request with FinCEN’s agreement, the bank may keep the account or transaction open under the request’s limits and schedule without being held legally responsible under this law. Also, no federal or state agency may punish the bank just for following that request. Financial institution — an entity covered by section 1953(b) of this title. Law enforcement may check that the request is valid. The bank must still file any required reports, including suspicious activity reports. The protection does not cover actions taken before the request was made or after the request’s end date. Every request must include an end date. The agency that sends the request must give FinCEN a copy and tell FinCEN within 2 business days whether the bank followed the request.