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Financial Access Improvements Act

USA118th CongressHR-5523| House 
| Updated: 12/5/2024
Maxine Waters

Maxine Waters

Democratic Representative

California

Foreign Affairs Committee, Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Financial Access Improvements Act This bill adds a requirement to the President's annual international narcotics control strategy report, which currently includes information on adoption of law and regulations to prevent narcotics-related money laundering in countries determined to be major money laundering countries. The additional requirement is to provide examples of improvement in each country in preventing narcotics-related money laundering, where such information is available. The President shall also consult with the Department of the Treasury on parts of the report related to money laundering and provide each country identified as a major money laundering country an opportunity to provide comments on the draft report. The bill also requires Treasury to consult with Federal banking agencies, the Financial Institutions Examination Council, and the Bank Secrecy Act Advisory Group and report to Congress on how to build more consistent Bank Secrecy Act exams across those agencies.
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Timeline
Sep 18, 2023
Introduced in House
Sep 18, 2023
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, 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.
Sep 20, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 47 - 0.
Sep 20, 2023
Committee Consideration and Mark-up Session Held
Dec 5, 2024
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-805, Part I.
  • September 18, 2023
    Introduced in House


  • September 18, 2023
    Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, 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.


  • September 20, 2023
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 47 - 0.


  • September 20, 2023
    Committee Consideration and Mark-up Session Held


  • December 5, 2024
    Reported (Amended) by the Committee on Financial Services. H. Rept. 118-805, Part I.

International Affairs

Banking and financial institutions regulationCongressional oversightDrug trafficking and controlled substancesForeign and international bankingFraud offenses and financial crimes

Financial Access Improvements Act

USA118th CongressHR-5523| House 
| Updated: 12/5/2024
Financial Access Improvements Act This bill adds a requirement to the President's annual international narcotics control strategy report, which currently includes information on adoption of law and regulations to prevent narcotics-related money laundering in countries determined to be major money laundering countries. The additional requirement is to provide examples of improvement in each country in preventing narcotics-related money laundering, where such information is available. The President shall also consult with the Department of the Treasury on parts of the report related to money laundering and provide each country identified as a major money laundering country an opportunity to provide comments on the draft report. The bill also requires Treasury to consult with Federal banking agencies, the Financial Institutions Examination Council, and the Bank Secrecy Act Advisory Group and report to Congress on how to build more consistent Bank Secrecy Act exams across those agencies.
View Full Text

Suggested Questions

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

Timeline
Sep 18, 2023
Introduced in House
Sep 18, 2023
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, 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.
Sep 20, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 47 - 0.
Sep 20, 2023
Committee Consideration and Mark-up Session Held
Dec 5, 2024
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-805, Part I.
  • September 18, 2023
    Introduced in House


  • September 18, 2023
    Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, 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.


  • September 20, 2023
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 47 - 0.


  • September 20, 2023
    Committee Consideration and Mark-up Session Held


  • December 5, 2024
    Reported (Amended) by the Committee on Financial Services. H. Rept. 118-805, Part I.
Maxine Waters

Maxine Waters

Democratic Representative

California

Foreign Affairs Committee, Financial Services Committee

International Affairs

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Banking and financial institutions regulationCongressional oversightDrug trafficking and controlled substancesForeign and international bankingFraud offenses and financial crimes