United States · Bill · HR
H.R. 8001 (117th)
Countering Atrocities through Currency Accountability Act of 2022
Introduced
9 June 2022
Last action
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Status
Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sponsors
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Subjects
Discovery layer
Source updated
3 January 2025
Summary
Countering Atrocities through Currency Accountability Act of 2022 This bill requires financial institutions and agencies to take specified special measures regarding foreign financial activity if the Department of the Treasury concludes that the measures are necessary to address human rights violations. These measures are applied upon a finding that a jurisdiction (or a financial institution, transaction, or type of account involving a jurisdiction) is of primary humanitarian concern. The measures include additional recordkeeping and reporting of transactions, beneficial ownership information, and information relating to payable-through accounts and correspondent accounts. If Treasury finds a payable-through or correspondent account involves foreign human rights violations, then Treasury is allowed to prohibit or impose conditions on that account. The bill establishes additional due diligence requirements for financial institutions managing a bank account or a correspondent account of a foreign person. Finally, Treasury must determine if the Xinjiang Uyghur Autonomous Region in China qualifies as a jurisdiction subject to the additional measures established by the bill.
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Documents
3 official files
Introduced in House (text)
Introduced in House (text)
Introduced in House · EN · 9 June 2022
Introduced in House (PDF)
Introduced in House · EN · 9 June 2022
Introduced in House
summary · EN · 9 June 2022
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Sources
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- Official source: https://www.congress.gov/bill/117th-congress/house-bill/8001
- Open data entity: https://api.congress.gov/v3/bill/117/hr/8001