H.R. 5936 · 117th Congress
Ransomware and Financial Stability Act of 2021
- Stage
- In committee
- Sponsor
- Patrick McHenry
- Introduced
- 2021-11-09
- Latest action
- 2021-11-09 · Introduced in House
Summary
Ransomware and Financial Stability Act of 2021
This bill requires financial institutions to inform the Financial Crimes Enforcement Network of a ransomware attack and any associated demand of payment. Further, the institution may not make such a payment in an amount greater than $100,000 without authorization from the appropriate federal law enforcement agency. The President may waive the notification requirement if it is in the national interest.