Public and Private Sector Ransomware Response Coordination Act of 2024

HR 9315 requires the Treasury Secretary to submit a report to Congress within one year of enactment, analyzing coordination between public and private sectors - including financial institutions and cybersecurity entities - in responding to ransomware attacks on financial institutions. The report must cover current information sharing practices, agency access to attack data, the usefulness of reported information for prevention/investigation, and potential policy improvements to enhance public-private partnerships. It directly affects financial institutions (as defined under 31 U.S.C. §5312(a)) and relevant government agencies by mandating a review of existing reporting and coordination mechanisms. The bill does not create new obligations or funding but seeks to identify gaps and recommend enhancements to streamline ransomware response. A briefing on the report’s findings is also required 15 months after enactment.