What this bill does
AI plain-language summaryThis 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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