31 U.S.C. § 316 — Treasury Attaché Program
submitted 5 years ago by Pub. L. 116-283 to r/title-31-MONEY-AND-FINANCE · 328 words · no verdicts yet
The Treasury Department has a program placing financial attachés in embassies worldwide. These attachés fight money laundering and build relationships with foreign financial officials. The law requires a minimum staffing level and sets special pay rules for these positions.
(a) In general. This section creates the Treasury Financial Attaché Program. The Secretary of the Treasury must appoint Treasury employees to serve as Treasury Financial Attachés. Their jobs are to: (1) help develop and carry out U.S. financial and economic policy and the international fight against terrorism, money laundering, and other illegal finance; (2) work out of a U.S. embassy, a similar U.S. government facility, or a foreign government facility, whichever the Secretary decides fits; (3) build and keep up relationships with foreign counterparts, including finance ministries, central banks, international financial institutions, and other relevant official bodies; (4) reach out to local and foreign financial institutions and other businesses; (5) coordinate with Department of Justice representatives at U.S. embassies who do similar work; and (6) do anything else the Secretary decides is appropriate.
(b) Number of attachés. (1) At any given time, there must be at least six more Treasury Financial Attachés than the number of Treasury attachés who were serving on the date this section became law. (2) The Secretary may create more posts beyond that, as long as funding is available.
(c) Compensation. (1) Each attaché stationed at a U.S. embassy gets paid at the higher of two rates: (A) whatever a Foreign Service officer at that same embassy would be paid, including allowances; or (B) whatever the attaché would have been paid anyway without this subsection. (2) That pay increase is phased in over two years.
There is established the Treasury Financial Attaché Program, under which the Secretary of the Treasury shall appoint employees of the Department of the Treasury as a Treasury Financial Attaché, who shall—
further the work of the Department of the Treasury in developing and executing the financial and economic policy of the United States Government and the international fight against terrorism, money laundering, and other illicit finance;
be co-located in a United States Embassy, a similar United States Government facility, or a foreign government facility, as the Secretary determines is appropriate;
establish and maintain relationships with foreign counterparts, including employees of ministries of finance, central banks, international financial institutions, and other relevant official entities;
conduct outreach to local and foreign financial institutions and other commercial actors;
coordinate with representatives of the Department of Justice at United States Embassies who perform similar functions on behalf of the United States Government; and
perform such other actions as the Secretary determines are appropriate.
The number of Treasury Financial Attachés appointed under this section at any one time shall be not fewer than 6 more employees than the number of employees of the Department of the Treasury serving as Treasury attachés on the date of enactment of this section.
The Secretary of the Treasury may establish additional posts subject to the availability of appropriations.
Each Treasury Financial Attaché appointed under this section and located at a United States Embassy shall receive compensation, including allowances, at the higher of—
the rate of compensation, including allowances, provided to a Foreign Service officer serving at the same embassy; and
the rate of compensation, including allowances, the Treasury Financial Attaché would otherwise have received, absent the application of this subsection.
The compensation described in paragraph (1) shall be phased in over 2 years.
Source credit: (Added Pub. L. 116–283, div. F, title LXI, § 6106(a), Jan. 1, 2021, 134 Stat. 4556.)
- 2021Enacted · Pub. L. 116-283 · 134 Stat. 4556
A history note hasn’t been published yet. The record shows enactment by Pub. L. 116-283 on 2021-01-01.
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