119th Congress
H.R. 533
Bank Privacy Reform Act
- Introduced
- In committee
- Passed House
- Passed Senate
- To President
- Became law
- Sponsor
- John W. Rose(R-TN)
- Introduced
- Jan 16, 2025
- Policy area
- Finance and Financial Sector
- Committees
- House Committee on Financial Services
- Official text
- Introduced in House · Congress.gov page
Cosponsors (1)
Original cosponsors (1)
- Andrew Ogles (R-TN)
Summary
Summary by the Congressional Research Service· describes the “Introduced in House” version
Bank Privacy Reform Act
This bill eliminates provisions that require financial institutions to report certain financial information to specified government agencies. Currently, financial institutions are required to report certain financial transactions (e.g., transfers of over $10,000) for the purpose of detecting illicit activity, such as money laundering or the financing of terrorism. Under the bill, such records are only obtainable through a search warrant.
The bill also eliminates reporting requirements related to the beneficial ownership of certain corporate entities.
Roll-call votes
No recorded votes on this bill.
Actions
- Jan 16, 2025 · House
Referred to the House Committee on Financial Services. - Jan 16, 2025
Introduced in House