HR 2514 · 116th Congress · Finance and Financial Sector
Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform Act of 2019
Bill Progress
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Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2019-10-29)
Plain Language Summary
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Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform Act of 2019 or the COUNTER Act of 2019 This bill generally revises requirements related to anti-money-laundering and counter-terrorism-financing laws. Among other things, the bill establishes new offices within financial regulatory agencies related to privacy and civil liberties; creates programs within the Department of the Treasury to enable foreign and domestic outreach regarding these laws; allows for increased information sharing between law enforcement, financial institutions, and financial regulators; and revises whistleblower incentives related to actions brought by the Financial Crimes Enforcement Network (FinCEN). The bill also increases penalties for violations of anti-money-laundering and counter-terrorism-financing laws, requires antiquities and art dealers to comply with these laws, and requires the reporting of beneficial ownership information to FinCEN in certain commercial real estate transactions.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 2514, COUNTER Act of 2019
Oct 16, 2019As ordered reported by the House Committee on Financial Services on May 9, 2019
Full CBO report ↗H.R. 2514, COUNTER Act of 2019
Oct 28, 2019As posted on the website of the House Majority Leader on October 25, 2019
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office
Cosponsors (2)
1 Democrat1 Republican