Integrity in Banking and Money Laundering Prevention Act of 1999

Summary

Integrity in Banking and Money Laundering Prevention Act of 1999 - Instructs the Secretary of the Treasury to report to certain congressional committees on private domestic banking activities, including regulatory efforts to monitor and ensure that such activities are conducted in compliance with Federal banking law governing monetary transactions and depository institution recordkeeping requirements. Instructs the Secretary to: (1) prescribe regulations which require financial institutions to maintain all accounts in such a way as to ensure that the name of the account holder and the number of the account are associated with all of the owner's account activity; and (2) develop criteria for identifying foreign high-intensity money laundering areas. Authorizes courts to double criminal penalties for violations involving high-intensity money laundering areas. Directs the Secretary to: (1) require domestic financial institutions to maintain records within the United States which accurately identify the parties for whom such institutions conduct transactions with foreign counterparts; and (2) promulgate final regulations requiring registered brokers and dealers to report suspicious transactions in accordance with specified banking law.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 21 September 1999

   Introduced

   Referred to the House Committee on Banking and Financial Services.

   Source: IntroReferral

2. 21 September 1999

   Introduced

   Introduced in House

   Source: IntroReferral

3. 21 September 1999

   Introduced

   Introduced in House

   Source: IntroReferral

4. 8 October 1999

   Referred

   Referred to the Subcommittee on Financial Institutions and Consumer Credit.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 21 September 1999 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 21 September 1999

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 21 September 1999

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 21 September 1999

  Open at official source

Sponsors

• Maxine Waters · D · Sponsor
• Rep. Vento, Bruce F. [D-MN-4] · D · Sponsor
• Rep. Velázquez, Nydia M. [D-NY-7] · D · Sponsor
• Rep. Hinchey, Maurice D. [D-NY-22] · D · Sponsor
• Barbara Lee · D · Cosponsor
• · hsba00 · Standing

Related records

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