HR 516
106th Congress
House
Finance and Financial Sector
Administrative procedure
Bank accounts
Bank records
Commerce
Crime and Law Enforcement
Department of the Treasury
Federal Deposit Insurance Corporation
Federal Reserve System
Financial institutions
Government Operations and Politics
Government corporations
Government paperwork
Law
Money
Money laundering
"Know Your Customer" Sunset Act
Introduced: February 3, 1999
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 12, 1999
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Feb 3, 1999
Referred to the House Committee on Banking and Financial Services.
Feb 3, 1999
Introduced in House
Plain-English summary
'Know Your Customer' Sunset Act - Ends the effectiveness of, and prohibits the Secretary of the Treasury or any Federal banking agency from prescribing, any regulation that has the effect of requiring a depository institution or any other private entity to: (1) monitor customer accounts; or (2) obtain information concerning any person in connection with a financial transaction (including the source of any funds involved in the transaction).
What's happening now
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Committees of jurisdiction
2