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HR 1984 112th Congress House

Small Business Banking Improvement Act of 2011

Official title: To amend title 31, United States Code, to allow States to certify a business as legitimate for purposes of a financial institution's suspicious activity report… Show full official titleShow less

Official title: To amend title 31, United States Code, to allow States to certify a business as legitimate for purposes of a financial institution's suspicious activity reporting requirements, facilitate unambiguous compliance of such businesses with State law, and provide regulatory relief for financial institutions.

Introduced: July 25, 2012 See on congress.gov
Finance and Financial Sector Bank accounts, deposits, capitalBanking and financial institutions regulationBusiness recordsCriminal justice information and recordsGovernment information and archives
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) 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
Jul 29, 2011
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
May 25, 2011
Referred to the House Committee on Financial Services.
May 25, 2011
Introduced in House
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 Latest action July 29, 2011

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service

Small Business Banking Improvement Act of 2011 - Prohibits the Secretary of the Treasury from requiring any financial institution or any of its directors, officers, employees, or agents to report any suspicious transaction relevant to a possible violation of law or regulation if a person involved in such transaction is a legitimate business.

Deems a person a legitimate business if the governor of each state in which such person does business has certified to the Secretary that: (1) the person is a business engaged in activities currently legal under state law, and (2) the state has an interest in exempting such person from mandatory reporting of suspicious transactions.

Requires the Secretary to maintain a public website with a list of all persons deemed to be a legitimate business for purposes of this Act.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 4
All 4 Democratic 2
OLVER, JOHN
· Sep 13, 2012
 D
DeGette, Diana
Colorado · Jul 25, 2012
 D
Lofgren, Zoe
California · Jul 14, 2011
FRANK, BARNEY
· May 25, 2011
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1984: Small Business Banking Improvement Act of 2011. 112th Congress. Open America. https://openamerica.io/bill/112-HR-1984/
MLA
"H.R. 1984: Small Business Banking Improvement Act of 2011." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-1984/.
Bluebook (legal)
H.R. 1984, 112th Cong. (2026), https://openamerica.io/bill/112-HR-1984/.
Markdown link
[H.R. 1984: Small Business Banking Improvement Act of 2011](https://openamerica.io/bill/112-HR-1984/)
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