Summary: H.R.1037 — 116th Congress (2019-2020)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Passed House (05/14/2019)

Banking Transparency for Sanctioned Persons Act of 2019

This bill requires the Department of the Treasury to report semiannually on financial services provided to benefit a state sponsor of terrorism or specified sanctioned persons.

Treasury may waive these reporting requirements with respect to a foreign financial institution if

  • the institution credibly assures Treasury that it will cease conducting transactions for such persons, or
  • the waiver is important to the national interest.