Legis Daily

FinCEN Exam Delegation Study

USA117th CongressHR-6328| House 
| Updated: 12/20/2021
Emanuel Cleaver

Emanuel Cleaver

Democratic Representative

Missouri

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
FinCEN Exam Delegation Study This bill requires the Department of the Treasury to brief specified congressional committees on Treasury's delegation of examination authority under the Bank Secrecy Act. The Bank Secrecy Act's aim is to deter and detect money laundering, terrorist financing, and other financial crimes by requiring financial institutions to keep records and report suspicious activity. Examinations of these financial institutions are delegated to and performed by financial regulatory agencies. The briefing must include how frequently agencies are able to examine entities under their authority, the resources available to agencies to perform their responsibilities, and whether examiners have sufficient training and support.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Dec 20, 2021
Introduced in House
Dec 20, 2021
Referred to the House Committee on Financial Services.
  • December 20, 2021
    Introduced in House


  • December 20, 2021
    Referred to the House Committee on Financial Services.

Finance and Financial Sector

Related Bills

  • S 117-1605: National Defense Authorization Act for Fiscal Year 2022

FinCEN Exam Delegation Study

USA117th CongressHR-6328| House 
| Updated: 12/20/2021
FinCEN Exam Delegation Study This bill requires the Department of the Treasury to brief specified congressional committees on Treasury's delegation of examination authority under the Bank Secrecy Act. The Bank Secrecy Act's aim is to deter and detect money laundering, terrorist financing, and other financial crimes by requiring financial institutions to keep records and report suspicious activity. Examinations of these financial institutions are delegated to and performed by financial regulatory agencies. The briefing must include how frequently agencies are able to examine entities under their authority, the resources available to agencies to perform their responsibilities, and whether examiners have sufficient training and support.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Dec 20, 2021
Introduced in House
Dec 20, 2021
Referred to the House Committee on Financial Services.
  • December 20, 2021
    Introduced in House


  • December 20, 2021
    Referred to the House Committee on Financial Services.
Emanuel Cleaver

Emanuel Cleaver

Democratic Representative

Missouri

Financial Services Committee

Finance and Financial Sector

Related Bills

  • S 117-1605: National Defense Authorization Act for Fiscal Year 2022
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted