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HR 6281 114th Congress House International Affairs Alliances Arms control and nonproliferation Asia Banking and financial institutions regulation Foreign and international banking Foreign property Japan North Korea Nuclear weapons Sanctions South Korea

BANK Act of 2016

Introduced: September 28, 2016 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 28, 2016
Referred to the House Committee on Foreign Affairs.
Sep 28, 2016
Introduced in House
 Plain-English summary Congressional Research Service

Block Access to North Korea Act of 2016 or BANK Act of 2016

This bill requires the President to impose sanctions pursuant to the International Emergency Economic Powers Act, with specified waiver authority, against a person that continues to knowingly and directly provide specialized financial messaging services to, or to knowingly enable or facilitate access to such messaging services for:

  • the Central Bank of the Democratic People's Republic of Korea (North Korea),
  • a financial institution that facilitates any transaction or provides significant financial services for nuclear development or proliferation on North Korea's behalf, or
  • a person identified on the list of specially designated nationals and blocked persons maintained by the Department of the Treasury's Office of Foreign Assets Control for assisting North Korea's nuclear development or proliferation efforts.
What's happening now September 28, 2016

Referred to the House Committee on Foreign Affairs.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 2 Republican 2