Banking Transparency for Sanctioned Persons Act of 2018
(Sec. 2) This bill requires the Department of the Treasury to report semiannually on financial services provided to benefit a state sponsor of terrorism or specified sanctioned persons.
(Sec. 3) Treasury may waive these reporting requirements with respect to a foreign financial institution if:
the institution credibly assures Treasury that it will cease conducting transactions for such persons, or the waiver is important to the national interest.
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