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H.R. 1475 101st Congress House

International Financial Security Act of 1989

Official title: To amend the Export Administration Act of 1979 and the Federal Deposit Insurance Act to authorize controls on the export of capital from the United States, to … Show full official titleShow less

Official title: To amend the Export Administration Act of 1979 and the Federal Deposit Insurance Act to authorize controls on the export of capital from the United States, to control exports supporting terrorism, to prohibit ownership of United States banks by Warsaw Pact countries, and for other purposes.

Introduced: March 16, 1989 See on congress.gov
Foreign Trade and International Finance American investmentsBank mergersCapitalEmigration
More subjectsShow fewer subjects
Export controlsExportsFinance and Financial SectorFines (Penalties)Foreign banks and bankingForeign investmentsForeign loansGovernment paperworkHuman rightsInternational cooperationJewsLicensesMoneySanctions (International law)Technology transferTerrorismTrade negotiationsU.S.S.R.Warsaw Pact countries
This bill died when the 101st Congress ended
It never became law before the 101st Congress (1989–1990) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 7 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 1, 1989
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
Mar 27, 1989
Referred to the Subcommittee on Arms Control, International Security and Science.
Mar 27, 1989
Referred to the Subcommittee on Europe and the Middle East.
Mar 27, 1989
Referred to the Subcommittee on International Economic Policy and Trade.
Mar 16, 1989
Referred to the House Committee on Foreign Affairs.
Mar 16, 1989
Referred to the House Committee on Banking, Finance + Urban Affrs.
Mar 16, 1989
Introduced in House
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 Latest action April 1, 1989

Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.

 Plain-English summary Congressional Research Service

International Financial Security Act of 1989 - Amends the Export Administration Act to state congressional findings that loans and other transfers of capital to the Soviet Union and its allies increase the ability of those countries to obtain sensitive goods and technology and to more easily divert funds to purposes inimical to U.S. interests. Declares that it is U.S. policy to use export controls to: (1) restrict the export of capital, the extension of credit, or the transfer of financial resources to destinations or persons abroad in order to promote the national security, including antiterrorism, the foreign policy interests of the United States, the advancement of emigration of Soviet Jews and other ethnic minorities, and human rights policies of the Soviet Union and other East Bloc countries; and (2) restrict the export of goods and technology where such export will likely support terrorism against U.S. citizens or benefit terrorists or countries supporting international terrorism.

Authorizes the President to restrict the export or transfer of: (1) goods and technology if such export will likely support terrorism against U.S. citizens or benefit terrorists or countries supporting international terrorism; and (2) money or other financial assets to the governments of Warsaw Pact countries or countries supporting international terrorism.

Provides for negotiations with other countries to obtain their cooperation with such export controls on capital, goods, and technology.

Requires export license applications for the export of capital to be submitted to the Secretary of the Treasury, who shall make all determinations with respect to such application.

Requires the annual report on the administration of the Export Administration Act of 1979 to include a report on actions taken to carry out export controls on capital.

Amends the Federal Deposit Insurance Act to require that any notice of a change in control of an insured bank include the nationality of the person or persons making the acquisition. Sets forth criminal penalties for violation of any change in control requirement.

Requires Federal banking agencies to disapprove any proposed acquisition which would result in the ownership or control of an insured bank by a Warsaw Pact country or a national agency or instrumentality of any such country.

Requires federally-insured banks to include in reports of condition and reports to shareholders, and make available to the public, information concerning the number and amount of each untied loan made to any Warsaw Pact country.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1475: International Financial Security Act of 1989. 101st Congress. Open America. https://openamerica.io/bill/101-HR-1475/
MLA
"H.R. 1475: International Financial Security Act of 1989." 101st Congress, 2026, Open America, https://openamerica.io/bill/101-HR-1475/.
Bluebook (legal)
H.R. 1475, 101st Cong. (2026), https://openamerica.io/bill/101-HR-1475/.
Markdown link
[H.R. 1475: International Financial Security Act of 1989](https://openamerica.io/bill/101-HR-1475/)
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