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FinCEN Oversight and Accountability Act of 2025

Introduced: January 3, 2025 Introduced by: Davidson, Warren Republican · Ohio See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 3, 2025
Referred to the House Committee on Financial Services.
Jan 3, 2025
Introduced in House
 Plain-English summary Congressional Research Service

FinCEN Oversight and Accountability Act of 2025

This bill requires the Department of the Treasury to keep specified congressional committees informed of the activity of the Financial Crimes Enforcement Network (FinCEN), particularly regarding unlawful activity and any resulting corrective action.

Further, Treasury must disclose to Congress and to the public (with some exclusions) all controlling documents delegating authority to or providing direction to FinCEN. Such disclosure includes any controlling documents in force upon enactment, any controlling documents issued thereafter, and any changes to controlling documents.

The bill extends for an additional five years the time period during which Treasury must testify before Congress regarding FinCEN’s anti-money laundering programs.

FinCEN must also hold an annual small business working group to provide guidance on beneficial ownership reporting obligations. 

What's happening now January 3, 2025

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1