S 3318 117th Congress Senate Finance and Financial Sector

Taylor Force Martyr Payment Prevention Act of 2021

Introduced: December 6, 2021 Introduced by: Cotton, Tom Republican · Arkansas See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Dec 6, 2021

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

Dec 6, 2021

Introduced in Senate

Plain-English summary Congressional Research Service

Taylor Force Martyr Payment Prevention Act of 2021

This bill expands the institutional factors the Department of the Treasury must consider when making a finding that a foreign financial institution is of primary money laundering concern and is therefore subject to special measures, including the prohibition of opening or maintaining correspondent accounts in U.S financial institutions. Specifically, Treasury must consider (1) the extent to which an institution knowingly provides financial services to Hamas, or to an agent of Hamas; and (2) the extent to which an institution, transaction, or type of account is used to facilitate or promote payments for certain acts of terrorism against U.S. and Israeli citizens.

What's happening now December 6, 2021

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

Committees of jurisdiction 1