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HR 3880 112th Congress House

To require the imposition of sanctions on foreign financial institutions that are members of an entity that provides services relating to secure communications, electronic funds transfers, or cable…

Official title: To require the imposition of sanctions on foreign financial institutions that are members of an entity that provides services relating to secure communications… Show full official titleShow less

Official title: To require the imposition of sanctions on foreign financial institutions that are members of an entity that provides services relating to secure communications, electronic funds transfers, or cable transfers to the Central Bank of Iran or sanctioned financial institutions.

Introduced: March 16, 2012 See on congress.gov
International Affairs Administrative law and regulatory proceduresBanking and financial institutions regulationDepartment of the TreasuryFinancial services and investments
More subjectsShow fewer subjects
Foreign and international bankingIranMiddle EastOil and gasSanctionsTrade restrictions
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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 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 23, 2012
Referred to the Subcommittee on International Monetary Policy and Trade.
Feb 23, 2012
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Feb 2, 2012
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Feb 2, 2012
Introduced in House
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 Latest action February 23, 2012

Referred to the Subcommittee on International Monetary Policy and Trade.

 Plain-English summary Congressional Research Service

Amends the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 to impose sanctions on a foreign financial institution that employs a member of the board of directors of an entity that provides, or facilitates access to, services relating to secure communications, electronic funds transfers, or cable transfers to the Central Bank of Iran or a sanctioned financial institution.

Prohibits the Secretary of the Treasury from prohibiting or conditioning the opening or maintaining in the United States of a correspondent account or a payable-through account by a foreign financial institution for employing a member of the board of directors of such an entity if the services relate to petroleum-related transactions from Iran that occur before the date on which specified sanctions apply.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 4
 Cosponsors 3
All 3 Democratic 1 Republican 1
R
Scott, Austin
Georgia · Mar 16, 2012
 D
Sherman, Brad
California · Mar 1, 2012
ROYCE, ED
· Feb 2, 2012
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3880: To require the imposition of sanctions on foreign financial institutions that are members of an entity that provides services relating to secure communications, electronic funds transfers, or cable transfers to the Central Bank of Iran or sanctioned financial institutions.. 112th Congress. Open America. https://openamerica.io/bill/112-HR-3880/
MLA
"H.R. 3880: To require the imposition of sanctions on foreign financial institutions that are members of an entity that provides services relating to secure communications, electronic funds transfers, or cable transfers to the Central Bank of Iran or sanctioned financial institutions.." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-3880/.
Bluebook (legal)
H.R. 3880, 112th Cong. (2026), https://openamerica.io/bill/112-HR-3880/.
Markdown link
[H.R. 3880: To require the imposition of sanctions on foreign financial institutions that are members of an entity that provides services relating to secure communications, electronic funds transfers, or cable transfers to the Central Bank of Iran or sanctioned financial institutions.](https://openamerica.io/bill/112-HR-3880/)
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