"Sec. 554. None of the funds made available in this Act may be used to carry out Operation Choke Point."[0]
My point is that managers and execs have a lot of wiggle room and the ability to make a number of funding transfers and decisions. They could clearly use budgeted funds or make a request for funding to accomplish actual data retention if they wanted to.
What makes you think that the Republicans involvement will make sure that "this will never happen". It doesn't matter what the Republicans do when the Democrat administration under President Obama just ignores them and the law.
[0] http://www.gpo.gov/fdsys/pkg/BILLS-113hr4660pcs/html/BILLS-1...
Edited to change the source material because some people could not handle the link originally used and to add the second sentence in the 3rd paragraph.