Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform Act of 2019
USA116th CongressHR-2514| House
| Updated: 10/29/2019
Emanuel Cleaver
Democratic Representative
Missouri
Ways and Means Committee, Trade Subcommittee, Financial Services Committee, Banking, Housing, and Urban Affairs Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
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 dealers to comply with these laws, and requires the reporting of beneficial ownership information to FinCEN in certain commercial real estate transactions. Every five years, Treasury must update the threshold amounts for currency transaction reports to reflect inflation.
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Timeline
Introduced in House
Referred to the Subcommittee on Trade.
Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, 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.
Placed on the Union Calendar, Calendar No. 195.
Committee on Ways and Means discharged.
Reported (Amended) by the Committee on Financial Services. H. Rept. 116-245, Part I.
Mr. Scott, David moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H8494-8503)
DEBATE - The House proceeded with forty minutes of debate on H.R. 2514.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8494-8501)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8494-8501)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Finance and Financial Sector
Administrative law and regulatory proceduresAdministrative remediesAdvanced technology and technological innovationsAdvisory bodiesArchaeology and anthropologyArt, artists, authorshipAsiaBanking and financial institutions regulationBusiness ethicsBusiness recordsChinaCivil actions and liabilityComputers and information technologyComputer security and identity theftCongressional oversightCorporate finance and managementCrime preventionCurrencyDepartment of the TreasuryDiplomacy, foreign officials, Americans abroadEmployee hiringEmployment discrimination and employee rightsEvidence and witnessesExecutive Office of the PresidentFinancial services and investmentsForeign and international bankingFraud offenses and financial crimesGovernment employee pay, benefits, personnel managementGovernment information and archivesGovernment studies and investigationsHistorical and cultural resourcesInflation and pricesInternational monetary system and foreign exchangeInternational organizations and cooperationJudicial review and appealsLaw enforcement administration and fundingLawyers and legal servicesMultilateral development programsOrganized crimePerformance measurementPublic contracts and procurementPublic-private cooperationReal estate businessRight of privacyRussiaSanctionsSmuggling and traffickingTechnology assessmentTerrorism
Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform Act of 2019
USA116th CongressHR-2514| House
| Updated: 10/29/2019
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 dealers to comply with these laws, and requires the reporting of beneficial ownership information to FinCEN in certain commercial real estate transactions. Every five years, Treasury must update the threshold amounts for currency transaction reports to reflect inflation.
Suggested Questions
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Timeline
Introduced in House
Referred to the Subcommittee on Trade.
Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, 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.
Placed on the Union Calendar, Calendar No. 195.
Committee on Ways and Means discharged.
Reported (Amended) by the Committee on Financial Services. H. Rept. 116-245, Part I.
Mr. Scott, David moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H8494-8503)
DEBATE - The House proceeded with forty minutes of debate on H.R. 2514.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8494-8501)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8494-8501)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Emanuel Cleaver
Democratic Representative
Missouri
Ways and Means Committee, Trade Subcommittee, Financial Services Committee, Banking, Housing, and Urban Affairs Committee
Finance and Financial Sector
Related Bills
- HR 116-2613: Advancing Innovation to Assist Law Enforcement Act
- HR 116-2513: Corporate Transparency Act of 2019
- HR 116-1039: To streamline requirements for currency transaction reports and suspicious activity reports, and for other purposes.
- HR 116-4367: Fight Illicit Finance through Technical Assistance Act of 2019
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Administrative law and regulatory proceduresAdministrative remediesAdvanced technology and technological innovationsAdvisory bodiesArchaeology and anthropologyArt, artists, authorshipAsiaBanking and financial institutions regulationBusiness ethicsBusiness recordsChinaCivil actions and liabilityComputers and information technologyComputer security and identity theftCongressional oversightCorporate finance and managementCrime preventionCurrencyDepartment of the TreasuryDiplomacy, foreign officials, Americans abroadEmployee hiringEmployment discrimination and employee rightsEvidence and witnessesExecutive Office of the PresidentFinancial services and investmentsForeign and international bankingFraud offenses and financial crimesGovernment employee pay, benefits, personnel managementGovernment information and archivesGovernment studies and investigationsHistorical and cultural resourcesInflation and pricesInternational monetary system and foreign exchangeInternational organizations and cooperationJudicial review and appealsLaw enforcement administration and fundingLawyers and legal servicesMultilateral development programsOrganized crimePerformance measurementPublic contracts and procurementPublic-private cooperationReal estate businessRight of privacyRussiaSanctionsSmuggling and traffickingTechnology assessmentTerrorism