HOUSE 2514116th CongressReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform Act of 2019

Last Action: 10/29/2019

Actions

2019-10-29Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2019-10-28Motion to reconsider laid on the table Agreed to without objection.
2019-10-28On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8494-8501)
2019-10-28Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8494-8501)
2019-10-28DEBATE - The House proceeded with forty minutes of debate on H.R. 2514.
2019-10-28Considered under suspension of the rules. (consideration: CR H8494-8503)
2019-10-28Mr. Scott, David moved to suspend the rules and pass the bill, as amended.
2019-10-21Placed on the Union Calendar, Calendar No. 195.
2019-10-21Committee on Ways and Means discharged.
2019-10-21Committee on Ways and Means discharged.
2019-10-21Reported (Amended) by the Committee on Financial Services. H. Rept. 116-245, Part I.
2019-10-21Reported (Amended) by the Committee on Financial Services. H. Rept. 116-245, Part I.
2019-05-03Referred to the Subcommittee on Trade.
2019-05-03Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, 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.
2019-05-03Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, 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.

Showing 15 of 17 actions. Full history on Congress.gov.

CRS Summary

As of 2019-10-28 (53)

Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform Act of 2019 or the COUNTER Act of 2019

This bill generally revises requirements related to anti-money-laundering and counter-terrorism-financing laws.

Among other things, the bill

establishes new offices within financial regulatory agencies related to privacy and civil liberties;
creates programs within the Department of the Treasury to enable foreign and domestic outreach regarding these laws;
allows for increased information sharing between law enforcement, financial institutions, and financial regulators; and
revises whistleblower incentives related to actions brought by the Financial Crimes Enforcement Network (FinCEN).

The bill also increases penalties for violations of anti-money-laundering and counter-terrorism-financing laws, requires antiquities dealers to comply with these laws, and requires the reporting of beneficial ownership information to FinCEN in certain commercial real estate transactions.

Every five years, Treasury must update the threshold amounts for currency transaction reports to reflect inflation.

Cosponsors (2)

Steve Stivers (R-OH)
CAROLYN MALONEY (D-NY)

Subjects

Administrative law and regulatory procedures
Administrative remedies
Advanced technology and technological innovations
Advisory bodies
Archaeology and anthropology
Art, artists, authorship
Asia
Banking and financial institutions regulation
Business ethics
Business records
China
Civil actions and liability
Computer security and identity theft
Computers and information technology
Congressional oversight
Corporate finance and management
Crime prevention
Currency
Department of the Treasury

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This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.