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Nowhere to Hide Oligarchs’ Assets Act

USA117th CongressHR-7080| House 
| Updated: 3/17/2022
Maxine Waters

Maxine Waters

Democratic Representative

California

Cosponsors (3)
Sylvia R. Garcia (Democratic)Stephen F. Lynch (Democratic)Sean Casten (Democratic)

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Nowhere to Hide Oligarchs' Assets Act This bill expands the scope of the Financial Crimes Enforcement Network's (FinCEN's) authority to obtain records related to financial crimes. Specifically, FinCEN may request a nationwide geographic targeting order requiring additional recordkeeping and reporting requirements applicable to domestic financial institutions or nonfinancial trades or businesses. Under current law, such an order must be limited to a specific geographic area. Additionally, the bill expands existing recordkeeping and reporting requirements applicable to U.S. residents, citizens, and entities when transacting with a foreign financial agency to also include transactions with a foreign nonfinancial trade or business.
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Timeline
Mar 15, 2022
Introduced in House
Mar 15, 2022
Referred to the House Committee on Financial Services.
Mar 17, 2022
Committee Consideration and Mark-up Session Held.
Mar 17, 2022
Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 26 - 23.
  • March 15, 2022
    Introduced in House


  • March 15, 2022
    Referred to the House Committee on Financial Services.


  • March 17, 2022
    Committee Consideration and Mark-up Session Held.


  • March 17, 2022
    Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 26 - 23.

Finance and Financial Sector

Business recordsForeign and international corporationsFraud offenses and financial crimesGovernment information and archives

Nowhere to Hide Oligarchs’ Assets Act

USA117th CongressHR-7080| House 
| Updated: 3/17/2022
Nowhere to Hide Oligarchs' Assets Act This bill expands the scope of the Financial Crimes Enforcement Network's (FinCEN's) authority to obtain records related to financial crimes. Specifically, FinCEN may request a nationwide geographic targeting order requiring additional recordkeeping and reporting requirements applicable to domestic financial institutions or nonfinancial trades or businesses. Under current law, such an order must be limited to a specific geographic area. Additionally, the bill expands existing recordkeeping and reporting requirements applicable to U.S. residents, citizens, and entities when transacting with a foreign financial agency to also include transactions with a foreign nonfinancial trade or business.
View Full Text

Suggested Questions

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

Timeline
Mar 15, 2022
Introduced in House
Mar 15, 2022
Referred to the House Committee on Financial Services.
Mar 17, 2022
Committee Consideration and Mark-up Session Held.
Mar 17, 2022
Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 26 - 23.
  • March 15, 2022
    Introduced in House


  • March 15, 2022
    Referred to the House Committee on Financial Services.


  • March 17, 2022
    Committee Consideration and Mark-up Session Held.


  • March 17, 2022
    Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 26 - 23.
Maxine Waters

Maxine Waters

Democratic Representative

California

Cosponsors (3)
Sylvia R. Garcia (Democratic)Stephen F. Lynch (Democratic)Sean Casten (Democratic)

Financial Services Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Business recordsForeign and international corporationsFraud offenses and financial crimesGovernment information and archives