Financial Access Improvements Act
- Last Action
- 12/5/2024
Actions
- 2024-12-05Reported (Amended) by the Committee on Financial Services. H. Rept. 118-805, Part I.
- 2024-12-05Reported (Amended) by the Committee on Financial Services. H. Rept. 118-805, Part I.
- 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
- 2023-09-18Referred 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.
- 2023-09-18Referred 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.
- 2023-09-18Introduced in House
- 2023-09-18Introduced in House
CRS Summary
As of 2023-09-18 (00)
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.
Subjects
- Banking and financial institutions regulation
- Congressional oversight
- Drug trafficking and controlled substances
- Foreign and international banking
- Fraud offenses and financial crimes
Sourced from Congress.gov (public domain).
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