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HR 6328 117th Congress House Finance and Financial Sector

FinCEN Exam Delegation Study

Introduced: December 20, 2021 Introduced by: Cleaver, Emanuel Democratic · Missouri 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
Dec 20, 2021
Referred to the House Committee on Financial Services.
Dec 20, 2021
Introduced in House
 Plain-English summary Congressional Research Service

FinCEN Exam Delegation Study

This bill requires the Department of the Treasury to brief specified congressional committees on Treasury's delegation of examination authority under the Bank Secrecy Act. The Bank Secrecy Act's aim is to deter and detect money laundering, terrorist financing, and other financial crimes by requiring financial institutions to keep records and report suspicious activity. Examinations of these financial institutions are delegated to and performed by financial regulatory agencies.

The briefing must include how frequently agencies are able to examine entities under their authority, the resources available to agencies to perform their responsibilities, and whether examiners have sufficient training and support.

What's happening now December 20, 2021

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1