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S. 403 106th Congress Senate

A bill to prohibit implementation of "Know Your Customer" regulations by the Federal banking agencies.

Introduced: March 2, 1999 See on congress.gov
Finance and Financial Sector Administrative procedureBank accountsBank recordsCommerce
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Crime and Law EnforcementDepartment of the TreasuryFederal Deposit Insurance CorporationFederal Reserve SystemFines (Penalties)Government Operations and PoliticsGovernment corporationsGovernment paperworkInjunctionsLawMoney laundering
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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 10, 1999
Read twice and referred to the Committee on Banking.
Feb 10, 1999
Sponsor introductory remarks on measure. (CR S1425)
Feb 10, 1999
Introduced in Senate
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 Latest action February 10, 1999

Read twice and referred to the Committee on Banking.

 Plain-English summary Congressional Research Service

Prohibits any regulation prescribed by the Secretary of the Treasury or any Federal banking agency that would require a depository institution or any other private entity to obtain information concerning any person in connection with a financial transaction between such person and such entity (know your customer regulation) from taking effect.

 Related & companion bills 1
  • S 508 Identical bill A bill to prohibit implementation of "Know Your Customer" regulations by the Federal banking agencies.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Crapo, Mike
Idaho · Mar 2, 1999
Cite this page click to expand
APA
U.S. Congress. (2026). S. 403: A bill to prohibit implementation of "Know Your Customer" regulations by the Federal banking agencies.. 106th Congress. Open America. https://openamerica.io/bill/106-S-403/
MLA
"S. 403: A bill to prohibit implementation of "Know Your Customer" regulations by the Federal banking agencies.." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-S-403/.
Bluebook (legal)
S. 403, 106th Cong. (2026), https://openamerica.io/bill/106-S-403/.
Markdown link
[S. 403: A bill to prohibit implementation of "Know Your Customer" regulations by the Federal banking agencies.](https://openamerica.io/bill/106-S-403/)
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