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United States · Bill · HR

H.R. 9159 (117th)

Bank Privacy Reform Act

referredUnited States· United States Congress· EN

Introduced

7 October 2022

Last action

Status

Referred to the House Committee on Financial Services.

Sponsors

Subjects

Discovery layer

Source updated

3 January 2025

Summary

Bank Privacy Reform Act This bill eliminates provisions that require financial institutions to report certain financial information to specified government agencies. Currently, financial institutions are required to report certain financial transactions for the purpose of detecting illicit activity, such as money laundering or the financing of terrorism. Under the bill, such records are only obtainable through a search warrant. The bill also eliminates reporting requirements related to the beneficial ownership of certain corporate entities.

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Documents

3 official files

Introduced in House (text)

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Sources

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