Road to The Floor
How it worksIntroduced
In Committee
On The Floor
Passed a Chamber
Passed Congress
To President
Became Law
What this bill does
AI plain-language summaryThis bill requires the Treasury Department to regularly report to Congress about the Financial Crimes Enforcement Network's activities, especially when there are problems that need fixing. The Treasury must also share with Congress and the public the documents that give FinCEN its authority and direction. The bill extends for five more years the requirement for Treasury officials to testify to Congress about FinCEN's anti-money laundering programs. FinCEN must also hold yearly meetings with small businesses to help them understand rules about reporting who owns their companies.
Introduced
January 3, 2025
Policy Area
Finance and Financial Sector
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