§316 Treasury Attaché Program

Summary

Creates the Treasury Financial Attaché Program and requires the Treasury Secretary to appoint Treasury employees as Financial Attachés. They must help carry out U.S. financial and economic policy and work on the international fight against terrorism, money laundering, and other illegal finance. Attachés will be based in U.S. embassies, similar U.S. sites, or foreign government facilities as the Secretary decides. They must build ties with foreign finance ministries, central banks, international financial institutions, and other officials; reach out to local and foreign banks and businesses; coordinate with Justice Department staff at embassies; and do other duties the Secretary finds needed. There must be at least 6 more Financial Attachés than were serving as Treasury attachés on the law’s enactment date, and the Secretary may add more posts if money allows. Attachés at U.S. embassies must be paid the higher of the embassy Foreign Service pay or their normal Treasury pay and allowances, with that higher pay phased in over 2 years.