S 1591 115th Congress Senate International Affairs Arms control and nonproliferation Asia Bangladesh Bank accounts, deposits, capital Banking and financial institutions regulation Chemical and biological weapons Civil actions and liability Congressional oversight Criminal investigation, prosecution, interrogation Detention of persons Diplomacy, foreign officials, Americans abroad Employee benefits and pensions Financial services and investments Foreign aid and international relief Foreign and international banking Foreign loans and debt Foreign property Fraud offenses and financial crimes Industrial facilities

Otto Warmbier Banking Restrictions Involving North Korea Act of 2017

Introduced: July 19, 2017 Introduced by: Van Hollen, Chris Democratic · Maryland See on congress.gov

Everywhere this bill has been 9 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jan 30, 2018

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-161.

Jan 18, 2018

Committee on Banking, Housing, and Urban Affairs. Hearings held.

Nov 16, 2017

Placed on Senate Legislative Calendar under General Orders. Calendar No. 263.

Nov 16, 2017

Committee on Banking, Housing, and Urban Affairs. Reported by Senator Crapo with an amendment in the nature of a substitute. Without written report.

Nov 7, 2017

Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.

Sep 28, 2017

Committee on Banking, Housing, and Urban Affairs. Hearings held.

Sep 7, 2017

Committee on Banking, Housing, and Urban Affairs. Hearings held.

Jul 19, 2017

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Jul 19, 2017

Introduced in Senate

Plain-English summary Congressional Research Service

Banking Restrictions Involving North Korea (BRINK) Act of 2017

This bill requires the President to: (1) submit to Congress a list of financial institutions that are providing financial or banking support to the government of North Korea; (2) impose specified financial and asset blocking sanctions on an institution that has knowingly engaged in such conduct, and (3) impose specified civil penalties upon a U.S. institution based upon whether it has taken steps to prevent a recurrence of such conduct.

The President: (1) may suspend, renew, or terminate sanctions subject to prior congressional notification and review; and (2) may not take an action if Congress enacts a joint resolution of disapproval of such action.

The President shall prohibit, with specified exceptions, transactions involving the manufacture, sale, purchase, transfer, import, or export of certain North Korean goods, services, or technology (covered property) by a U.S. person or such transactions that are conducted in the United States.

The President may impose specified sanctions with respect to: (1) persons providing specialized financial messaging services to North Korean financial institutions or sanctioned persons, and (2) governments that fail to take specified actions against North Korean financial institutions or persons designated under a United Nations Security Council resolution.

A state or local government may divest its assets from, or prohibit investment of its assets in, any person engaging in investment activities involving North Korean covered property valued at more than $10,000.

The bill expresses the sense of Congress with respect to: (1) blocking of property of North Korean officials, (2) divestiture of certain employee benefit plan funds involving North Korean covered property, and (3) the Kaesong Industrial Complex and North Korean nuclear disarmament.

What's happening now January 30, 2018

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-161.

Committees of jurisdiction 1