Otto Warmbier Banking Restrictions Involving North Korea Act of 2017

openUnited States· United States Congress· EN

Introduced

19 July 2017

Last action

30 January 2018 · Committee

Status

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-161.

Summary

Banking Restrictions Involving North Korea (BRINK) Act of 2017 This bill requires the President to: (1) submit to Congress a list of financial institutions that are providing financial or banking support to the government of North Korea; (2) impose specified financial and asset blocking sanctions on an institution that has knowingly engaged in such conduct, and (3) impose specified civil penalties upon a U.S. institution based upon whether it has taken steps to prevent a recurrence of such conduct. The President: (1) may suspend, renew, or terminate sanctions subject to prior congressional notification and review; and (2) may not take an action if Congress enacts a joint resolution of disapproval of such action. The President shall prohibit, with specified exceptions, transactions involving the manufacture, sale, purchase, transfer, import, or export of certain North Korean goods, services, or technology (covered property) by a U.S. person or such transactions that are conducted in the United States. The President may impose specified sanctions with respect to: (1) persons providing specialized financial messaging services to North Korean financial institutions or sanctioned persons, and (2) governments that fail to take specified actions against North Korean financial institutions or persons designated under a United Nations Security Council resolution. A state or local government may divest its assets from, or prohibit investment of its assets in, any person engaging in investment activities involving North Korean covered property valued at more than $10,000. The bill expresses the sense of Congress with respect to: (1) blocking of property of North Korean officials, (2) divestiture of certain employee benefit plan funds involving North Korean covered property, and (3) the Kaesong Industrial Complex and North Korean nuclear disarmament.

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

Timeline

19 July 2017
Introduced
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Source: IntroReferral
19 July 2017
Introduced
Introduced in Senate
Source: IntroReferral
7 September 2017
Committee
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Source: Committee
28 September 2017
Committee
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Source: Committee
7 November 2017
Reported
Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
Source: Committee
16 November 2017
Calendars
Placed on Senate Legislative Calendar under General Orders. Calendar No. 263.
Source: Calendars
16 November 2017
Reported
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Crapo with an amendment in the nature of a substitute. Without written report.
Source: Committee
16 November 2017
Reported
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Crapo with an amendment in the nature of a substitute. Without written report.
Source: Committee
18 January 2018
Committee
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Source: Committee
30 January 2018
Committee
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-161.
Source: Committee

Votes

No vote records are attached yet.

Versions

Reported to Senate · 16 November 2017 · Download file
Introduced in Senate · 19 July 2017 · Download file

Documents

5 official files

Reported to Senate (text)

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Reported to Senate (text)
Reported to Senate · EN · 16 November 2017
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Reported to Senate (PDF)
Reported to Senate · EN · 16 November 2017
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Introduced in Senate (text)
Introduced in Senate · EN · 19 July 2017
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Introduced in Senate (PDF)
Introduced in Senate · EN · 19 July 2017
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Introduced in Senate
summary · EN · 19 July 2017
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Related records

related to ← End Banking for Human Traffickers Act of 2017

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/115th-congress/senate-bill/1591
Open data entity: https://api.congress.gov/v3/bill/115/s/1591
us · 115-s-1591 · source updated 14 January 2025