Pipeline · Bill → Law
Step 1
Introduced
Feb 27, 2023
Step 2
Referred
Feb 27, 2023
Financial Services
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill eliminates provisions that require financial institutions to report certain financial information to specified government agencies. Currently, financial institutions are required to report certain financial transactions for the purpose of detecting illicit activity, such as money laundering or the financing of terrorism. Under the bill, such records are only obtainable through a search warrant. The bill also eliminates reporting requirements related to the beneficial ownership of certain corporate entities.
Timeline · 2 actions
Feb 27, 2023
Introduced in House
Feb 27, 2023
Referred to the House Committee on Financial Services.