HR 1602 · 119th Congress · Finance and Financial Sector

Financial Privacy Act of 2025

Introduced 2025-02-26· Sponsored by Rep. Davidson, Warren [R-OH-8]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Placed on the Union Calendar, Calendar No. 14.(2025-03-21)

Plain Language Summary

[AI summary unavailable — showing source text] Financial Privacy Act of 2025 This bill requires the Department of the Treasury to annually report to Congress details of reports made to the Financial Crimes Enforcement Network (FinCEN). FinCEN collects reports on suspicious financial transactions and the beneficial ownership of companies in order to detect financial crimes, including money laundering. Under the bill, FinCEN must report on the number and types of reports and whether they are retained by FinCEN, any guidance regarding outside agency access to these reports, agency requests for these reports, and any denials of access to these reports.   Treasury must annually review access guidance and revise as appropriate to protect the legal rights of U.S persons, among other objectives.…

Summarized by Claude AI · Non-partisan · For informational purposes only

CBO Cost Estimate

Congressional Budget Office

H.R. 1602, Financial Privacy Act of 2025

Mar 31, 2025

As reported by the House Committee on Financial Services on March 21, 2025

Full CBO report ↗

Official non-partisan budget analysis by the Congressional Budget Office

Cosponsors (1)

1 Democrat