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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (5)

Short Titles

Short Titles - House of Representatives

Short Titles as Passed House

Otto Warmbier North Korea Nuclear Sanctions Act

Short Titles as Reported to House

Impeding North Korea's Access to Finance Act of 2017

Short Titles as Introduced

Impeding North Korea's Access to Finance Act of 2017

Official Titles

Official Titles - House of Representatives

Official Titles as Amended by House

To impose secondary sanctions with respect to North Korea, strengthen international efforts to improve sanctions enforcement, and for other purposes.

Official Title as Introduced

To require the Secretary of the Treasury to place conditions on certain accounts at United States financial institutions with respect to North Korea, and for other purposes.


Actions Overview (3)

Date
10/24/2017Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 2 (Roll no. 581).(text: CR H8099-8100)
10/23/2017Reported (Amended) by the Committee on Financial Services. H. Rept. 115-361.
10/02/2017Introduced in House

All Actions (17)

Date Chamber
10/25/2017SenateReceived in the Senate and Read twice and referred to the Committee on Foreign Relations.
10/24/2017-5:54pmHouseThe title of the measure was amended. Agreed to without objection.
10/24/2017-5:54pmHouseMotion to reconsider laid on the table Agreed to without objection.
10/24/2017-5:54pmHouseOn motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 2 (Roll no. 581). (text: CR H8099-8100)
10/24/2017-5:49pmHouseConsidered as unfinished business. (consideration: CR H8129-8130)
10/24/2017-2:50pmHouseAt the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
10/24/2017-2:11pmHouseDEBATE - The House proceeded with forty minutes of debate on H.R. 3898.
10/24/2017-2:11pmHouseConsidered under suspension of the rules. (consideration: CR H8099-8104)
10/24/2017-2:11pmHouseMr. Barr moved to suspend the rules and pass the bill, as amended.
10/23/2017HousePlaced on the Union Calendar, Calendar No. 265.
10/23/2017HouseReported (Amended) by the Committee on Financial Services. H. Rept. 115-361.
Action By: Committee on Financial Services
10/12/2017HouseOrdered to be Reported (Amended) by the Yeas and Nays: 56 - 0.
Action By: Committee on Financial Services
10/12/2017HouseCommittee Consideration and Mark-up Session Held.
Action By: Committee on Financial Services
10/11/2017HouseCommittee Consideration and Mark-up Session Held.
Action By: Committee on Financial Services
10/02/2017HouseReferred to the House Committee on Financial Services.
10/02/2017HouseIntroduced in House
09/13/2017HouseHearings Held by the Subcommittee on Monetary Policy and Trade Prior to Introduction and Referral.
Action By: House Financial Services Subcommittee on Monetary Policy and Trade

Committees (2)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Financial Services10/02/2017 Referred to
10/12/2017 Markup by
10/23/2017 Reported by H. Rept. 115-361
House Financial Services Subcommittee on Monetary Policy and Trade09/13/2017 Hearings by
Senate Foreign Relations10/25/2017 Referred to

As of 07/22/2018 no related bill information has been received for H.R.3898 - Otto Warmbier North Korea Nuclear Sanctions Act.


Latest Summary (3)

There are 3 summaries for H.R.3898. View summaries

Shown Here:
Passed House amended (10/24/2017)

Otto Warmbier North Korea Nuclear Sanctions Act

(Sec. 3) This bill directs the Department of the Treasury to prohibit a foreign financial institution that knowingly provides significant financial services to a "covered person" from opening or maintaining a correspondent account in the United States. "Covered person" includes any person doing business with North Korea, any North Korean person employed outside North Korea (unless waived by Treasury), and any person that knowingly employs a North Korean person outside North Korea. The bill establishes civil and criminal penalties for violations.

Treasury must prohibit a U.S.-based financial institution from knowingly engaging in a significant transaction with a covered person. The bill establishes civil penalties for violations.

(Sec. 4) The bill amends the Bretton Woods Agreements Act to direct the United States to oppose international financial assistance for a foreign government that does not implement these sanctions against North Korea. The President may waive this directive after specified steps are taken.

The bill amends the Export-Import Bank Act to prohibit the bank from providing support to a covered person.

(Sec. 5) Treasury must report on compliance with this bill among financial institutions, including any penalties imposed and efforts by Treasury to support compliance.

The bill amends the International Financial Institutions Act to require Treasury to: (1) instruct the U.S. Executive Director at the International Monetary Fund (IMF) to support the use of the IMF's administrative budget for technical assistance that strengthens the capacity of IMF members to prevent money laundering and the financing of terrorism, and (2) report on the effectiveness of such assistance.

(Sec. 6) The President may suspend or terminate sanctions under this bill if certain steps regarding nonproliferation of weapons of mass destruction are taken by North Korea.