[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6588 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 6588

      To require the Secretary of the Treasury to assess whether 
 international financial institutions, such as the International Bank 
for Reconstruction and Development and the International Monetary Fund, 
      are sufficiently focused on preventing terrorist financing.


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                    IN THE HOUSE OF REPRESENTATIVES

                            December 5, 2023

Ms. De La Cruz introduced the following bill; which was referred to the 
                    Committee on Financial Services

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                                 A BILL


 
      To require the Secretary of the Treasury to assess whether 
 international financial institutions, such as the International Bank 
for Reconstruction and Development and the International Monetary Fund, 
      are sufficiently focused on preventing terrorist financing.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``International Financial Institution 
Counter Terrorism Accountability Act''.

SEC. 2. REPORT ON INTERNATIONAL FINANCIAL INSTITUTION FOCUS ON 
              TERRORIST FINANCING.

    (a) In General.--Within 180 days after the date of the enactment of 
this Act, the Secretary of the Treasury shall submit to the Congress a 
written report that includes the following:
            (1) A list of the countries supported by the International 
        Bank for Reconstruction and Development (in this Act referred 
        to as the ``World Bank'') and the International Monetary Fund 
        (in this Act referred to as the ``IMF'').
            (2) A list of the activities and programs that the World 
        Bank and the IMF provide to member countries to combat 
        terrorist financing and anti-money laundering activities.
            (3) The total amount spent by the World Bank and the IMF on 
        providing the activities and programs referred to in paragraph 
        (2), and the total amount of Federal funds used for the 
        activities and programs in the 10-year period ending with such 
        date of enactment.
            (4) An evaluation of the effectiveness of the activities 
        and programs.
    (b) Recommendations.--Within 90 days after submitting to the 
Congress the report required by subsection (a), the Secretary of the 
Treasury shall, based on the information in the report, develop 
recommendations for measures to be implemented by the World Bank and 
the IMF which would enhance the efforts of the World Bank and the IMF 
to combat terrorist financing and anti-money laundering activities, and 
instruct the United States Executive Directors at the World Bank and 
the IMF to advocate for their respective institutions to implement the 
measures.
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