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119-s-2157119th CongressWALLET

Gun Violence Prevention Through Financial Intelligence Act

Sponsored By: Senator Markey, Edward J. [D-MA]

Introduced

Summary

Use financial intelligence to trace how domestic extremists buy guns. This bill would require the Financial Crimes Enforcement Network to collect financial information and issue an advisory about how homegrown violent extremists and other domestic terrorists procure firearms and accessories.

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  • Financial institutions would be asked to provide information within 1 year. The request would be treated like a suspicious transaction report and would be tailored to the size of each institution.
  • FinCEN must consult with the FBI, the Bureau of Alcohol, Tobacco, Firearms and Explosives, and sellers of firearms and accessories before requesting information, and must define key terms by rule within 90 days.
  • Not later than 540 days, FinCEN would issue the advisory if it has enough information. If not, it must report to the Senate Banking Committee and the House Financial Services Committee explaining the data collected, participation levels, and barriers to getting information.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

New bank data on gun purchases

This bill would require FinCEN to ask banks and financial firms for information within 1 year. The data would help write an advisory on how extremists and lone actors buy guns and accessories. FinCEN would consult the FBI, ATF, and sellers and tailor requests by firm size. Bank suspicious-activity rules in 31 U.S.C. 5318(g) would apply to those requests. Within 540 days, FinCEN would either issue the advisory or send a detailed report to the Senate Banking and House Financial Services Committees. Within 90 days, FinCEN would define terms like “firearm accessory,” “homegrown violent extremist,” “lone wolf,” and “lone actor.”

Sponsors & CoSponsors

Sponsor

Markey, Edward J. [D-MA]

MA • D

Cosponsors

  • Sen. Blumenthal, Richard [D-CT]

    CT • D

    Sponsored 6/24/2025

  • Sen. Hirono, Mazie K. [D-HI]

    HI • D

    Sponsored 6/24/2025

  • Sen. Booker, Cory A. [D-NJ]

    NJ • D

    Sponsored 6/24/2025

  • Sen. Warren, Elizabeth [D-MA]

    MA • D

    Sponsored 6/24/2025

Roll Call Votes

No roll call votes available for this bill.

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