H.R. 1220
Referred to CommitteeBank Privacy Reform Act
Latest Action
Referred to the House Committee on Financial Services.
2/27/2023 • House
Summary
Bank Privacy Reform Act
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.
Introduced in House • 2/27/2023
Topics & Subjects
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Related Federal Spending
Sponsor & Cosponsors (4)
Party Breakdown
Sponsor
Cosponsors (3)
Bill Journey
Originated in the House
Introduced
February 27, 2023
Referred to the House Committee on Financial Services.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law