Search Results: keywords:"bank secrecy act"

  • H. R. 533 — To make reforms to the Bank Secrecy Act, and for other purposes.
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    Status:Introduced in House
    Words:1,276

    H.R. 533, titled the "Bank Privacy Reform Act," aims to reform the Bank Secrecy Act by amending several sections of existing financial privacy laws. The bill focuses on tightening the conditions under which government authorities can access financial records, ensuring that such access is only...

    Simple Explanation

    H.R. 533 is a bill that changes rules about how the government can see people's bank records, making it harder for them to do so without a special permission paper, while also getting rid of some rules for banks to report information, which might make things a bit confusing.

  • S. 5242 — To amend the Right to Financial Privacy Act of 1978 to preserve the confidentiality of certain records, and for other purposes.
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    Status:Introduced in Senate
    Words:8,491

    S. 5242 aims to amend the Right to Financial Privacy Act of 1978 to enhance the confidentiality of certain financial records. The bill introduces reforms to the Bank Secrecy Act and outlines warrant requirements and exceptions for accessing financial records by the...

    Simple Explanation

    The bill wants to make money rules safer and stop people from looking at our money secrets without permission, but some parts might be confusing and could make problems for the people who have to follow the rules.

  • H. R. 1602 — To require the Secretary of the Treasury to provide for greater transparency and protections with regard to Bank Secrecy Act reports, and for other purposes.
    Status:Introduced in House
    Words:1,127

    H.R. 1602, titled the “Financial Privacy Act of 2025,” aims to increase transparency and protections concerning reports filed under the Bank Secrecy Act (BSA). The bill mandates the Secretary of the Treasury to annually report to Congress detailed information about these...

    Simple Explanation

    H.R. 1602 wants to make sure the rules for how banks keep and share secret information are clearer and safer, like making sure they check every year if they’re doing a good job at protecting this information and telling Congress about it. In seven years, they will stop doing this unless new rules are made.