119th Congress
H.R. 1602
Financial Privacy Act of 2025
- Introduced
- In committee
- Passed House
- Passed Senate
- To President
- Became law
- Sponsor
- Warren Davidson(R-OH)
- Introduced
- Feb 26, 2025
- Policy area
- Finance and Financial Sector
- Committees
- House Committee on Financial Services
- Official text
- Reported in House · Congress.gov page
Cosponsors (1)
Original cosponsors (1)
- James A. Himes (D-CT)
Summary
Summary by the Congressional Research Service· describes the “Introduced in House” version
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.
Roll-call votes
No recorded votes on this bill.
Actions
- Mar 21, 2025 · House
Placed on the Union Calendar, Calendar No. 14. - Mar 21, 2025 · House
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 · House
Referred to the House Committee on Financial Services. - Feb 26, 2025
Introduced in House