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HR 1602 119th Congress House Finance and Financial Sector Congressional oversight Corporate finance and management Fraud offenses and financial crimes Government information and archives Government studies and investigations Right of privacy

Financial Privacy Act of 2025

Introduced: February 26, 2025 Introduced by: Davidson, Warren Republican · Ohio See on congress.gov
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 Everywhere this bill has been 6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 21, 2025
Placed on the Union Calendar, Calendar No. 14.
Mar 21, 2025
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-24.
Mar 5, 2025
Ordered to be Reported (Amended) by the Yeas and Nays: 48 - 0.
Mar 5, 2025
Committee Consideration and Mark-up Session Held
Feb 26, 2025
Referred to the House Committee on Financial Services.
Feb 26, 2025
Introduced in House
 Plain-English summary Congressional Research Service

Financial Privacy Act of 2025

This bill requires the Department of the Treasury to annually report to Congress details of reports made to the Financial Crimes Enforcement Network (FinCEN). FinCEN collects reports on suspicious financial transactions and the beneficial ownership of companies in order to detect financial crimes, including money laundering.

Under the bill, FinCEN must report on the number and types of reports and whether they are retained by FinCEN, any guidance regarding outside agency access to these reports, agency requests for these reports, and any denials of access to these reports.  

Treasury must annually review access guidance and revise as appropriate to protect the legal rights of U.S persons, among other objectives.

What's happening now March 21, 2025

Placed on the Union Calendar, Calendar No. 14.

 Cosponsors 1 matching
All 1 Democratic 1
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