HR 9159
117th Congress
House
Finance and Financial Sector
Bank Privacy Reform Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 7, 2022
Referred to the House Committee on Financial Services.
Oct 7, 2022
Introduced in House
Plain-English summary
Bank Privacy Reform Act
This bill eliminates provisions that require financial institutions to report certain financial information to specified government agencies. Currently, financial institutions are required to report certain financial transactions for the purpose of detecting illicit activity, such as money laundering or the financing of terrorism. Under the bill, such records are only obtainable through a search warrant.
The bill also eliminates reporting requirements related to the beneficial ownership of certain corporate entities.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1