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Special Measures to Fight Modern Threats Act

USA117th CongressS-3876| Senate 
| Updated: 3/17/2022
Mark R. Warner

Mark R. Warner

Democratic Senator

Virginia

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Special Measures to Fight Modern Threats Act This bill expands the special measures available to the Financial Crimes Enforcement Network (FinCEN) to combat money laundering regarding a jurisdiction outside of the United States; a financial institution operating outside of the United States; a class of transaction within, or involving, a jurisdiction outside of the United States; or one or more types of accounts. Specifically, FinCEN may prohibit or impose conditions upon the opening or maintaining in the United States of a correspondent account or payable-through account by any domestic financial institution or domestic financial agency without requiring, as under current law, that such account be for or on behalf of a foreign banking institution. Further, FinCEN may prohibit or impose conditions upon certain transmittals of funds to or from any domestic financial institution or domestic financial agency if such transmittal of funds involves any such jurisdiction, institution, class of transaction, or type of account.
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Timeline
Mar 17, 2022

Latest Companion Bill Action

HR 117-7128
Introduced in House
Mar 17, 2022
Introduced in Senate
Mar 17, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • March 17, 2022

    Latest Companion Bill Action

    HR 117-7128
    Introduced in House


  • March 17, 2022
    Introduced in Senate


  • March 17, 2022
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Finance and Financial Sector

Related Bills

  • HR 117-7128: Special Measures to Fight Modern Threats Act

Special Measures to Fight Modern Threats Act

USA117th CongressS-3876| Senate 
| Updated: 3/17/2022
Special Measures to Fight Modern Threats Act This bill expands the special measures available to the Financial Crimes Enforcement Network (FinCEN) to combat money laundering regarding a jurisdiction outside of the United States; a financial institution operating outside of the United States; a class of transaction within, or involving, a jurisdiction outside of the United States; or one or more types of accounts. Specifically, FinCEN may prohibit or impose conditions upon the opening or maintaining in the United States of a correspondent account or payable-through account by any domestic financial institution or domestic financial agency without requiring, as under current law, that such account be for or on behalf of a foreign banking institution. Further, FinCEN may prohibit or impose conditions upon certain transmittals of funds to or from any domestic financial institution or domestic financial agency if such transmittal of funds involves any such jurisdiction, institution, class of transaction, or type of account.
View Full Text

Suggested Questions

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

Timeline
Mar 17, 2022

Latest Companion Bill Action

HR 117-7128
Introduced in House
Mar 17, 2022
Introduced in Senate
Mar 17, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • March 17, 2022

    Latest Companion Bill Action

    HR 117-7128
    Introduced in House


  • March 17, 2022
    Introduced in Senate


  • March 17, 2022
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mark R. Warner

Mark R. Warner

Democratic Senator

Virginia

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

Related Bills

  • HR 117-7128: Special Measures to Fight Modern Threats Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted