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HR 518 106th Congress House Finance and Financial Sector Administrative procedure Bank accounts Bank records Crime and Law Enforcement Department of the Treasury Financial institutions Government Operations and Politics Government paperwork Law Money Money laundering

Bank Secrecy Sunset Act

Introduced: May 18, 1999 See on congress.gov
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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
Feb 25, 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
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 Plain-English summary Congressional Research Service

Bank Secrecy Sunset Act - Amends Federal law to repeal after one year provisions governing: (1) mandatory records and reports on monetary instruments transactions; and (2) mandatory financial recordkeeping by financial institutions other than insured banks.

Terminates the effectiveness of any regulation prescribed by the Secretary of the Treasury or any provision of Federal law 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 funds involved in the transaction).

What's happening now February 25, 1999

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Republican 2
R
Wicker, Roger F.
Mississippi · Jun 15, 1999
Sanford, Mark
· May 18, 1999
 R
Thune, John
South Dakota · Feb 9, 1999
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 518: Bank Secrecy Sunset Act. 106th Congress. Open America. https://openamerica.io/bill/106-HR-518/
MLA
"H.R. 518: Bank Secrecy Sunset Act." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-HR-518/.
Bluebook (legal)
H.R. 518, 106th Cong. (2026), https://openamerica.io/bill/106-HR-518/.
Markdown link
[H.R. 518: Bank Secrecy Sunset Act](https://openamerica.io/bill/106-HR-518/)
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