H.R.1037 - Banking Transparency for Sanctioned Persons Act of 2019116th Congress (2019-2020)
|Sponsor:||Rep. Riggleman, Denver [R-VA-5] (Introduced 02/07/2019)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 05/15/2019 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.1037 — 116th Congress (2019-2020)All Information (Except Text)
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.