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H.R. 1220 118th Congress House

Bank Privacy Reform Act

Official title: To make reforms to the Bank Secrecy Act, and for other purposes.

Introduced: March 7, 2024 Introduced by: John W. Rose Republican · Tennessee See on congress.gov
Finance and Financial Sector
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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
Feb 27, 2023
Referred to the House Committee on Financial Services.
Feb 27, 2023
Introduced in House
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 Latest action February 27, 2023

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

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.

 Related & companion bills 2
  • HR 9159 Reintroduction of Bank Privacy Reform Act
  • S 5242 Saving Privacy Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Republican 3
R
Steube, W. Gregory
Florida · Mar 7, 2024
 R
Ogles, Andrew
Tennessee · Mar 8, 2023
 R
Sessions, Pete
Texas · Feb 27, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1220: Bank Privacy Reform Act. 118th Congress. Open America. https://openamerica.io/bill/118-HR-1220/
MLA
"H.R. 1220: Bank Privacy Reform Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-1220/.
Bluebook (legal)
H.R. 1220, 118th Cong. (2026), https://openamerica.io/bill/118-HR-1220/.
Markdown link
[H.R. 1220: Bank Privacy Reform Act](https://openamerica.io/bill/118-HR-1220/)
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