Financial Privacy Act of 2023
- Last Action
- 12/13/2023
Actions
- 2023-12-13Placed on the Union Calendar, Calendar No. 256.
- 2023-12-13Reported (Amended) by the Committee on Financial Services. H. Rept. 118-317.
- 2023-12-13Reported (Amended) by the Committee on Financial Services. H. Rept. 118-317.
- 2023-09-20Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 47 - 0.
- 2023-09-20Committee Consideration and Mark-up Session Held
- 2023-09-14Referred to the House Committee on Financial Services.
- 2023-09-14Introduced in House
- 2023-09-14Introduced in House
CRS Summary
As of 2023-12-13 (07)
Financial Privacy Act of 2023
This bill requires the Department of the Treasury to annually report to Congress details of reports made to the Financial Crimes Enforcement Network (FinCEN). FinCEN collects reports on suspicious financial transactions and the beneficial ownership of companies in order to detect financial crimes, including money laundering.
Under the bill, FinCEN must report on the number and types of reports and whether they are retained by FinCEN, any guidance regarding outside agency access to these reports, agency requests for these reports, and any denials of access.
Treasury must annually review access guidance and revise as appropriate to protect the legal rights of U.S persons, among other objectives.
Cosponsors (2)
- James Himes (D-CT)
- BRAD SHERMAN (D-CA)
Subjects
- Congressional oversight
- Corporate finance and management
- Fraud offenses and financial crimes
- Government information and archives
- Government studies and investigations
- Right of privacy
Sourced from Congress.gov (public domain).
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.