Skip to main content
HR 6370 118th Congress House International Affairs Fraud offenses and financial crimes Licensing and registrations Public-private cooperation U.S. and foreign investments

OFAC Licensure for Investigators Act

Introduced: November 13, 2023 Introduced by: Beatty, Joyce Democratic · Ohio See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 16 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 16, 2024
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jan 12, 2024
Motion to reconsider laid on the table Agreed to without objection.
Jan 12, 2024
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: 1/10/2024 CR H37)
Jan 12, 2024
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: 1/10/2024 CR H37)
Jan 12, 2024
Considered as unfinished business. (consideration: CR H126)
Jan 10, 2024
At the conclusion of debate, the chair put the question on the motion to suspend the rules. Mr. McHenry objected to the vote on the grounds that a quorum was not present. Further proceedings on the motion were postponed. The point of no quorum was considered as withdrawn.
Jan 10, 2024
DEBATE - The House proceeded with forty minutes of debate on H.R. 6370.
Jan 10, 2024
Considered under suspension of the rules. (consideration: CR H37-39)
Jan 10, 2024
Mr. McHenry moved to suspend the rules and pass the bill, as amended.
Jan 9, 2024
Placed on the Union Calendar, Calendar No. 280.
Jan 9, 2024
Committee on Foreign Affairs discharged.
Jan 9, 2024
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-341, Part I.
Nov 14, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 50 - 0.
Nov 14, 2023
Committee Consideration and Mark-up Session Held
Nov 13, 2023
Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, 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.
Nov 13, 2023
Introduced in House
 Plain-English summary Congressional Research Service

OFAC Licensure for Investigators Act

This bill requires the Office of Foreign Assets Control (OFAC) to authorize eligible private sector firms to conduct nominal financial transactions as part of the firm's sanctions-related investigations.

Specifically, OFAC must establish a pilot program to provide licenses allowing firms to conduct such transactions. A firm that receives a license must submit monthly reports to OFAC on activities conducted under the license.

(OFAC, within the Department of the Treasury, is one of the primary agencies responsible for enforcing economic sanctions. OFAC requires firms to take various actions, such as ensuring that they are not engaging in transactions with entities subject to U.S. sanctions. A firm may also provide voluntary self-disclosures to OFAC with information from a firm's investigation of suspicious activities.)

What's happening now January 16, 2024

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

 Committees of jurisdiction 3
 Cosponsors 1
All 1 Republican 1