Rollout Map
Sign Up
H.R. 1602 House Finance and Financial Sector

Financial Privacy Act of 2025

Introduced
Feb 26, 2025
Sponsor
Rep. Davidson, Warren (R-OH-8)
View on Congress.gov

STAGE 3 OF 8 — CALENDARS AND SCHEDULING

Currently in the House. Last action: placed on the union calendar, calendar no. 14 on Mar 21, 2025.

  1. House Introduced in House Feb 26, 2025
  2. House Referred to the House Committee on Financial Services. Feb 26, 2025
  3. House Committee Consideration and Mark-up Session Held Mar 5, 2025
  4. House Ordered to be Reported (Amended) by the Yeas and Nays: 48 - 0. Mar 5, 2025
  5. House Reported (Amended) by the Committee on Financial Services. H. Rept. 119-24. Mar 21, 2025
  6. House Placed on the Union Calendar, Calendar No. 14. Mar 21, 2025

Cosponsors

1

Subjects

Congressional oversightCorporate finance and managementFraud offenses and financial crimesGovernment information and archivesGovernment studies and investigationsRight of privacy

Committees

  • Financial Services Committee
    • [Reported By, Mar 21, 2025]
    • [Markup By, Mar 5, 2025]
    • [Referred To, Feb 26, 2025]

Summary

Financial Privacy Act of 2025

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 to these reports.  

Treasury must annually review access guidance and revise as appropriate to protect the legal rights of U.S persons, among other objectives.

[Summary as of: Introduced in House]

Bill Text

Formatted Text PDF Formatted XML

Comments · 0

Loading comments...