§316 Treasury Attaché Program

Summary

Creates the Treasury Financial Attaché Program and requires the Secretary of the Treasury to appoint Treasury employees as Financial Attachés. They must help make and carry out U.S. financial and economic policy and work against terrorism, money laundering, and other illegal finance. They must be based in U.S. embassies, similar U.S. facilities, or foreign government facilities as the Secretary decides. They must build ties with foreign finance officials and institutions, reach out to local and foreign banks and businesses, coordinate with Department of Justice staff at embassies, and carry out other tasks the Secretary considers appropriate. There must be at least 6 more Financial Attachés than the number of Treasury attachés serving on the law’s enactment date. The Secretary may add more posts if money is available. Attachés posted at U.S. embassies must be paid, with allowances, at the higher of the pay for a Foreign Service officer at that embassy or the pay they would otherwise receive. That higher pay is phased in over 2 years.