Saving Privacy Act

This bill would eliminate or limit requirements for financial institutions to report certain information to the government. Currently, banks must report transactions over $10,000 to help detect money laundering and terrorism financing, but under this bill, the government would need a search warrant to get these records. The bill would also require Congress to approve new rules from financial regulatory agencies and would generally ban federal agencies from creating or using a central bank digital currency. Additionally, it would reduce reporting requirements for business ownership information and certain online payment platforms.

Your Vote