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American Financial Institutions' Privacy Act

Introduced: February 10, 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 4 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
Sponsor introductory remarks on measure. (CR E133-134)
Feb 3, 1999
Introduced in House
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 Plain-English summary Congressional Research Service

American Financial Institutions' Privacy Act of 1999 - Precludes the Secretary of the Treasury and any Federal banking agency from prescribing any "Know Your Customer" regulation (a regulation requiring any depository institution to determine a customer's identity, sources of funds, and normal transactions and to monitor account activity for inconsistent transactions) unless specifically authorized to do so by a subsequent Act of Congress.

Requires the Secretary and the Federal banking agencies to jointly conduct a comprehensive study and report to the Congress on the impact of such regulations upon certain civil liberties and financial relationships, the economic burden of such regulations on small depository institutions, and the practical alternatives.

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
Calvert, Ken
California · Feb 10, 1999
Sanford, Mark
· Feb 10, 1999
 R
Lucas, Frank D.
Oklahoma · Feb 4, 1999
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 530: American Financial Institutions' Privacy Act. 106th Congress. Open America. https://openamerica.io/bill/106-HR-530/
MLA
"H.R. 530: American Financial Institutions' Privacy Act." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-HR-530/.
Bluebook (legal)
H.R. 530, 106th Cong. (2026), https://openamerica.io/bill/106-HR-530/.
Markdown link
[H.R. 530: American Financial Institutions' Privacy Act](https://openamerica.io/bill/106-HR-530/)
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