Federal RuleAug 21
62
DOL Rewrites Disability Rules for 'Merit-Based Opportunity' Push
RuleLabor DepartmentFederal Contract Compliance Programs OfficeSignificant Wallet
119-hr-1602119th CongressWALLET
Financial Privacy Act of 2025
Sponsored By: Representative Davidson, Warren [R-OH-8]
In Committee
Summary
Enhanced congressional oversight and transparency for FinCEN's Bank Secrecy Act reporting. The bill would require detailed reports and annual reviews of protocols that govern agency access, retention, and sharing of those filings and includes a seven-year sunset.
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- Congressional committees: The chair or ranking member of the House Financial Services Committee and the Senate Banking Committee would get an initial report within 180 days and annual updates. They can request copies of any written protocols and must receive revised protocols within 30 days of a change.
- Treasury and FinCEN: The Treasury would report counts of reports filed under the Bank Secrecy Act since January 1, 2022 by type, the total records FinCEN retains, and a description of protocols plus the number of agency queries and any denials or revocations.
- Law enforcement, intelligence, and privacy: The Secretary, working with the Director of National Intelligence and the Attorney General, would annually review and, as appropriate, revise access rules to better tailor collection, prevent unauthorized disclosures, and protect the rights of United States persons.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
More oversight of FinCEN data use
This bill would require the Treasury to report to Congress on FinCEN reporting and data use not later than 180 days after enactment and every year after. The reports would show how many reports, by type, were filed each year since January 1, 2022, and how many were kept. They would also explain access rules, updates to those rules, how often agencies queried the data, and any denials with reasons. The Secretary would review these access rules every year with the Director of National Intelligence and the Attorney General to better target security goals and protect privacy. If committee leaders ask, the Secretary would share the protocols, and would send any updates within 30 days. These oversight rules would end seven years after enactment.
Sponsors & CoSponsors
Sponsor
Davidson, Warren [R-OH-8]
OH • R
Cosponsors
Rep. Himes, James A. [D-CT-4]
CT • D
Sponsored 2/26/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov