119-hr807

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 807 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 807

 To direct the Secretary of the Treasury to submit a report on 
 coordination in the public and private sectors in responding to 
 ransomware attacks on financial institutions, and for other purposes.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 January 28, 2025

 Mr. Nunn of Iowa (for himself and Mr. Gottheimer) introduced the 
 following bill; which was referred to the Committee on Financial 
 Services

_______________________________________________________________________

 A BILL

 To direct the Secretary of the Treasury to submit a report on 
 coordination in the public and private sectors in responding to 
 ransomware attacks on financial institutions, and for other purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Public and Private Sector Ransomware 
Response Coordination Act of 2025''.

SEC. 2. REPORT ON COORDINATION IN THE PUBLIC AND PRIVATE SECTORS IN 
 RESPONDING TO RANSOMWARE ATTACKS ON FINANCIAL 
 INSTITUTIONS.

    (a) In General.--Not later than one year after the date of the 
enactment of this section, the Secretary of the Treasury shall submit 
to the appropriate congressional committees a report that describes the 
following:

    (1) The current level of coordination and collaboration 
 between the public and private sectors, including entities in 
 the public and private sectors that manage cybersecurity, in 
 response to, and for the prevention of, a ransomware attack on 
 a financial institution.

    (2) The coordination among relevant governmental agencies 
 in response to, and for the prevention of, a ransomware attack 
 on a financial institution.

    (3) Whether relevant governmental agencies have timely 
 access to relevant information reported by a financial 
 institution following a ransomware attack on the financial 
 institution.

    (4) The utility of such information to any relevant 
 governmental agency in the prevention or investigation of a 
 ransomware attack on a financial institution, or the 
 prosecution of a person responsible for such attack.

    (5) An analysis of reporting requirements applicable to a 
 financial institution with respect to a ransomware attack in 
 relation to the utility to any relevant governmental agency of 
 the reported information in the prevention or investigation of 
 a ransomware attack on a financial institution, or the 
 prosecution of a person responsible for such attack.

    (6) Whether further legislation is required to increase the 
 utility and timely access of such information to any relevant 
 governmental agency following a ransomware attack on a 
 financial institution.

    (7) Any recommended policy initiatives to bolster public-
 private partnerships, increase incident report sharing, and 
 decrease incident response time.

    (8) The extent to which, and reasons that, financial 
 institutions withhold or delay reporting to relevant 
 governmental agencies information about a ransomware attack.

    (9) Any feedback on the contents of the report received 
 from cybersecurity and ransomware response entities that 
 provide services to financial institutions.

    (b) Form of Report.--The report described in subsection

    (a) shall 
be submitted in unclassified form, but may include a classified annex.
            (c) Briefing.--Not later than 15 months after the date of the 
enactment of this section, the Secretary of the Treasury shall brief 
the appropriate congressional committees on the findings of the report 
described in subsection

    (a) .
            (d) === Definitions. ===
-In this section:

    (1) Appropriate congressional committees.--The term 
 ``appropriate congressional committees'' means--
        (A) the Committee on Financial Services of the 
 House of Representatives;
        (B) the Permanent Select Committee on Intelligence 
 of the House of Representatives;
            (C) the Committee on Banking, Housing, and Urban 
 Affairs of the Senate; and
            (D) the Select Committee on Intelligence of the 
 Senate.

    (2) Cybersecurity and ransomware incident response 
 entity.--The term ``cybersecurity and ransomware incident 
 response entity'' means an entity that provides incident 
 responses, managed services, or advisory services that--
        (A) supports investigation and risk management 
 related to ransomware attacks in the public and private 
 sectors;
        (B) strengthens cybersecurity technology in the 
 financial sector; and
            (C) reduces overall cyber risk in the financial 
 sector by assessing the security posture of a financial 
 institution, assisting a financial institution with 
 regulatory compliance, and providing recommendations to 
 a financial institution for recovery after a ransomware 
 attack and prevention of any future attacks.

    (3) Financial institution.--The term ``financial 
 institution'' has the meaning given that term under 

section 5312

    (a) of title 31, United States Code.
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