Skip to main content
HR 5523 118th Congress House International Affairs Banking and financial institutions regulation Congressional oversight Drug trafficking and controlled substances Foreign and international banking Fraud offenses and financial crimes

Financial Access Improvements Act

Introduced: September 18, 2023 Introduced by: Waters, Maxine Democratic · California See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 5, 2024
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-805, Part I.
Sep 20, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 47 - 0.
Sep 20, 2023
Committee Consideration and Mark-up Session Held
Sep 18, 2023
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sep 18, 2023
Introduced in House
 Plain-English summary Congressional Research Service

Financial Access Improvements Act

This bill adds a requirement to the President's annual international narcotics control strategy report, which currently includes information on adoption of law and regulations to prevent narcotics-related money laundering in countries determined to be major money laundering countries. The additional requirement is to provide examples of improvement in each country in preventing narcotics-related money laundering, where such information is available.

The President shall also consult with the Department of the Treasury on parts of the report related to money laundering and provide each country identified as a major money laundering country an opportunity to provide comments on the draft report.

The bill also requires Treasury to consult with Federal banking agencies, the Financial Institutions Examination Council, and the Bank Secrecy Act Advisory Group and report to Congress on how to build more consistent Bank Secrecy Act exams across those agencies.

What's happening now December 5, 2024

Reported (Amended) by the Committee on Financial Services. H. Rept. 118-805, Part I.

 Committees of jurisdiction 2