HR 1602 · 119th CongressIn Committeecongress.gov ↗

Financial Privacy Act of 2025

What this bill does

AI plain-language summary

This bill requires the Treasury Department to give Congress a yearly report about the financial reports that are sent to the Financial Crimes Enforcement Network (FinCEN). FinCEN collects reports on suspicious financial transactions and information about who owns companies to help find financial crimes like money laundering. The yearly report must include how many reports FinCEN gets, what types they are, whether FinCEN keeps them, and information about which other government agencies ask for these reports and whether they are given access. Treasury must also review its rules each year about who can access these reports and update them when needed to protect the legal rights of Americans.

Introduced

February 26, 2025

Policy Area

Finance and Financial Sector

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