Gun Violence Prevention Through Financial Intelligence Act
Sponsored By: Representative Rep. Dean, Madeleine [D-PA-4]
Introduced
Summary
Financial intelligence on firearm procurement. This bill would require the Financial Crimes Enforcement Network to collect bank and payment information to develop an advisory on how domestic terrorists and homegrown violent extremists procure firearms and accessories in the U.S.
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- Financial institutions would be asked to provide information under FinCEN's suspicious-activity reporting authority. FinCEN must make that request within 1 year and tailor requests to each institution's size.
- FinCEN would consult with the FBI and the Bureau of Alcohol, Tobacco, Firearms and Explosives before seeking data and must issue the advisory within 540 days if it has sufficient information. If not, FinCEN would report to the House and Senate banking committees explaining what it collected and any barriers.
- Sellers of firearms and firearm accessories would be consulted during the information-gathering process, and FinCEN would issue a rule within 90 days defining “firearm accessory,” “homegrown violent extremist,” “lone wolf,” and “lone actor.”
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Banks asked to help detect gun violence
If enacted, FinCEN would ask banks and other financial firms for information within 1 year. The goal would be an advisory on how extremists buy firearms and accessories and how the market is misused. Before asking, FinCEN would consult the FBI, the ATF, and firearm sellers. Requests would use suspicious activity reporting rules and be tailored to each firm’s size. Within 90 days, FinCEN would define terms like “firearm accessory” and “lone actor.” Within 540 days, FinCEN would either publish the advisory or send Congress a report if data are not enough.
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Sponsors & CoSponsors
Sponsor
Rep. Dean, Madeleine [D-PA-4]
PA • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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