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S. 667 116th Congress Senate

Otto Warmbier Banking Restrictions Involving North Korea Act of 2019

Official title: A bill to impose sanctions with respect to the Democratic People's Republic of Korea, and for other purposes.

Introduced: March 5, 2019 Introduced by: Chris Van Hollen Democratic · Maryland See on congress.gov
International Affairs AlliancesArms control and nonproliferationAsiaBank accounts, deposits, capital
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Banking and financial institutions regulationCivil actions and liabilityCoalCongressional oversightCorporate finance and managementCrime victimsCriminal investigation, prosecution, interrogationDiplomacy, foreign officials, Americans abroadEmployee benefits and pensionsFinancial services and investmentsForeign aid and international reliefForeign and international bankingForeign and international corporationsForeign laborForeign propertyFraud offenses and financial crimesGovernment ethics and transparency, public corruptionHuman traffickingIntelligence activities, surveillance, classified informationInternational organizations and cooperationLaw enforcement administration and fundingLicensing and registrationsMetalsMilitary assistance, sales, and agreementsNorth KoreaNuclear weaponsOil and gasPresidents and presidential powers, Vice PresidentsSanctionsSeafoodState and local financeTechnology transfer and commercializationTrade restrictionsU.S. and foreign investmentsUnited NationsWar and emergency powers
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 5, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 5, 2019
Introduced in Senate
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 Latest action March 5, 2019

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

 Plain-English summary Congressional Research Service

Otto Warmbier Banking Restrictions Involving North Korea Act of 2019

This bill expands sanctions and reporting requirements related to North Korea and revises provisions related to combating human trafficking.

The Department of the Treasury shall impose asset-related sanctions on persons that knowingly provide significant financial services to any person that is subject to various sanctions, including those covered in any United Nations Security Council (UNSC) resolution.

The President may impose sanctions on persons that take certain actions related to North Korea, including knowingly (1) engaging in transactions in goods such as coal, or (2) contributing to a violation of a UNSC resolution through a significant transfer of property.

A country that has transacted in defense articles with North Korea shall be barred from receiving certain U.S. assistance for five years, whereas currently the prohibition lasts for two years.

The President's annual report to Congress on the implementation of UNSC resolutions shall include information on countries that fail to prohibit certain activities related to North Korea, such as the unauthorized clearing of funds. The bill also imposes various reporting requirements, such as requirements for Treasury to report on how North Korea's government exploits beneficial ownership rules to access the international financial system.

The bill authorizes each state to adopt measures to require the divestment of the state's assets from North Korea-related investments.

Treasury shall designate an office to coordinate efforts to combat the illicit financing of human trafficking. The Interagency Task Force to Monitor and Combat Trafficking shall report to Congress recommendations for strengthening anti-money-laundering efforts in relation to human trafficking.

 Related & companion bills 2
  • HR 295 End Banking for Human Traffickers Act of 2019
  • S 1790 National Defense Authorization Act for Fiscal Year 2020
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1
D
Cortez Masto, Catherine
Nevada · Mar 6, 2019
Toomey, Patrick
· Mar 5, 2019
Cite this page click to expand
APA
U.S. Congress. (2026). S. 667: Otto Warmbier Banking Restrictions Involving North Korea Act of 2019. 116th Congress. Open America. https://openamerica.io/bill/116-S-667/
MLA
"S. 667: Otto Warmbier Banking Restrictions Involving North Korea Act of 2019." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-667/.
Bluebook (legal)
S. 667, 116th Cong. (2026), https://openamerica.io/bill/116-S-667/.
Markdown link
[S. 667: Otto Warmbier Banking Restrictions Involving North Korea Act of 2019](https://openamerica.io/bill/116-S-667/)
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