Search Results: keywords:"bank secrecy act reforms"

  • H. R. 2155 — To amend the Right to Financial Privacy Act of 1978 to preserve the confidentiality of certain records, and for other purposes.
    💰
    Status:Introduced in House
    Words:9,149

    The Saving Privacy Act aims to amend the Right to Financial Privacy Act of 1978, enhancing the confidentiality of financial records by imposing stricter warrant requirements and exceptions. Additionally, it seeks to dismantle the Consolidated Audit Trail to prevent privacy...

    Simple Explanation

    The Saving Privacy Act is like a special rulebook that helps keep people's money secrets safe by making it harder for others to peek at them without a good reason. It also says that the government cannot make a type of money that only exists on computers, and it stops a big tool that checks on money businesses to keep people’s money information private.

  • S. 809 — To amend the Right to Financial Privacy Act of 1978 to preserve the confidentiality of certain records, and for other purposes.
    💰
    Status:Introduced in Senate
    Words:9,113

    The Saving Privacy Act aims to strengthen the confidentiality of financial records under the Right to Financial Privacy Act of 1978 by requiring government authorities to obtain a warrant for access. It also eliminates the previously established Consolidated Audit Trail,...

    Simple Explanation

    The Saving Privacy Act is like a superhero for your family's money secrets, making sure big people need a special paper called a "warrant" to peek at your money things and stopping them from making a new kind of money that only they can control.