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HR 2905 106th Congress House

Integrity in Banking and Money Laundering Prevention Act of 1999

Official title: To eliminate money laundering in the private banking system, to require the Secretary of the Treasury to take certain actions with regard to foreign countries … Show full official titleShow less

Official title: To eliminate money laundering in the private banking system, to require the Secretary of the Treasury to take certain actions with regard to foreign countries in which there is a concentration of money laundering activities, and for other purposes.

Introduced: September 21, 1999 Introduced by: Waters, Maxine Democratic · California See on congress.gov
Finance and Financial Sector Administrative procedureBank accountsBank recordsBrokers
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CommerceCongressCongressional reporting requirementsCrime and Law EnforcementCrime preventionCriminal investigationDepartment of the TreasuryFinancial institutionsFinancial servicesFines (Penalties)Foreign Trade and International FinanceForeign banks and bankingGovernment Operations and PoliticsGovernment paperworkGovernment publicityLawMoney launderingProsecutionSecurities regulationSentences (Criminal procedure)
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This bill died when the 106th Congress ended
It never became law before the 106th Congress (1999–2000) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 8, 1999
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Sep 21, 1999
Referred to the House Committee on Banking and Financial Services.
Sep 21, 1999
Introduced in House
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 Latest action October 8, 1999

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service
Integrity in Banking and Money Laundering Prevention Act of 1999 - Instructs the Secretary of the Treasury to report to certain congressional committees on private domestic banking activities, including regulatory efforts to monitor and ensure that such activities are conducted in compliance with Federal banking law governing monetary transactions and depository institution recordkeeping requirements.

Instructs the Secretary to: (1) prescribe regulations which require financial institutions to maintain all accounts in such a way as to ensure that the name of the account holder and the number of the account are associated with all of the owner's account activity; and (2) develop criteria for identifying foreign high-intensity money laundering areas.

Authorizes courts to double criminal penalties for violations involving high-intensity money laundering areas.

Directs the Secretary to: (1) require domestic financial institutions to maintain records within the United States which accurately identify the parties for whom such institutions conduct transactions with foreign counterparts; and (2) promulgate final regulations requiring registered brokers and dealers to report suspicious transactions in accordance with specified banking law.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1
D
Velázquez, Nydia M.
New York · Sep 21, 1999
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2905: Integrity in Banking and Money Laundering Prevention Act of 1999. 106th Congress. Open America. https://openamerica.io/bill/106-HR-2905/
MLA
"H.R. 2905: Integrity in Banking and Money Laundering Prevention Act of 1999." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-HR-2905/.
Bluebook (legal)
H.R. 2905, 106th Cong. (2026), https://openamerica.io/bill/106-HR-2905/.
Markdown link
[H.R. 2905: Integrity in Banking and Money Laundering Prevention Act of 1999](https://openamerica.io/bill/106-HR-2905/)
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