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United States · Bill · HR

H.R. 516 (106th)

"Know Your Customer" Sunset Act

referredUnited States· United States Congress· EN

Introduced

3 February 1999

Last action

12 February 1999 · Referred

Status

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

Sponsors

Rep. Paul, Ron [R-TX-14], Rep. Rogan, James E. [R-CA-27], Rep. Upton, Fred [R-MI-6], Rep. Burton, Dan [R-IN-5], Rep. Nethercutt, George R., Jr. [R-WA-5], Rep. Taylor, Charles H. [R-NC-11], Rep. Latham, Tom [R-IA-3], Rep. Young, Don [R-AK-At Large], Rep. Skeen, Joe [R-NM-2], Rep. DeLay, Tom [R-TX-22], Rep. Campbell, Tom [R-CA-15], Rep. Hall, Ralph M. [R-TX-4], Sen. Thune, John [R-SD], Rep. Clement, Bob [D-TN-5], Rep. McInnis, Scott [R-CO-3], Rep. Sanford, Mark [R-SC-1], Rep. Jones, Walter B., Jr. [R-NC-3], Rep. Hefley, Joel [R-CO-5], Rep. Hostettler, John N. [R-IN-8], Sen. Moran, Jerry [R-KS], Rep. Sessions, Pete [R-TX-17], Rep. Metcalf, Jack [R-WA-2], Rep. LaHood, Ray [R-IL-18], Rep. Istook, Ernest J., Jr. [R-OK-5], Rep. Green, Mark [R-WI-8], Rep. Hyde, Henry J. [R-IL-6], Rep. Tancredo, Thomas G. [R-CO-6], Rep. Miller, Gary G. [R-CA-42], Rep. Goode, Virgil H., Jr. [R-VA-5], Rep. Deal, Nathan [R-GA-9], Rep. Ryun, Jim [R-KS-2], Rep. Schaffer, Bob [R-CO-4], Rep. Linder, John [R-GA-7], Rep. Duncan, John J., Jr. [R-TN-2], Rep. Saxton, Jim [R-NJ-3], Rep. Gordon, Bart [D-TN-6], Rep. Stump, Bob [R-AZ-3], Sen. Blunt, Roy [R-MO], Rep. Gibbons, Jim [R-NV-2], Sen. Sununu, John E. [R-NH], Rep. Manzullo, Donald A. [R-IL-16], Rep. Dunn, Jennifer [R-WA-8], Rep. Chabot, Steve [R-OH-1], Rep. Hayworth, J. D. [R-AZ-5], Sen. Toomey, Patrick [R-PA], Rep. Lewis, Ron [R-KY-2], Rep. Norwood, Charles W. [R-GA-9], Rep. Packard, Ron [R-CA-48]

Subjects

Discovery layer

Source updated

20 August 2025

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Summary

'Know Your Customer' Sunset Act - Ends the effectiveness of, and prohibits the Secretary of the Treasury or any Federal banking agency from prescribing, any regulation that has the effect of requiring a depository institution or any other private entity to: (1) monitor customer accounts; or (2) obtain information concerning any person in connection with a financial transaction (including the source of any funds involved in the transaction).

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

Timeline

  1. 3 February 1999

    Introduced

    Referred to the House Committee on Banking and Financial Services.

    Source: IntroReferral

  2. 3 February 1999

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 3 February 1999

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 12 February 1999

    Referred

    Referred to the Subcommittee on Financial Institutions and Consumer Credit.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 3 February 1999

    ViewDownloadOpen at official source

  • Introduced in House (PDF)

    Introduced in House · EN · 3 February 1999

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 3 February 1999

    Open at official source

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Sponsors

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Related records

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Sources

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