PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Financial Services.
Congressional Research Service
Version 00 · Introduced in House · Feb 12, 2025
This joint resolution nullifies the final rule issued by the Financial Crimes Enforcement Network (FinCEN) titled Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers and published on September 4, 2024. The rule expands existing anti-money laundering and counterterror financing requirements (e.g., reporting suspicious financial activity to FinCEN) to include certain investment advisers.
People & committees
Rep. Clyde, Andrew S. [R-GA-9] · R–GA
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We also preserved the text version used in the PlainBill explanation below.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Sep 29, 2025. Consult Congress.gov for the current record.
AI Conversation Starters
Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.
Analyze H.J.Res.56 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine H.J.Res.56 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine H.J.Res.56 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine H.J.Res.56 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.
PlainBill explanation
Based on the full Introduced in House · 2025-02-12 text. This explanation has not received human editorial review. This overview describes the proposal’s major provisions; it does not establish what its real-world effects would be.
This proposed resolution would cancel a federal rule concerning investment advisers’ programs to combat money laundering and terrorist financing and their reporting of suspicious activity. The named rule concerns registered investment advisers and exempt reporting advisers.
That Congress disapproves the rule submitted by the Financial Crimes Enforcement Network relating to Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers (89 Fed. Reg. 72156 (September 4, 2024)), and such rule shall have no force or effect.
The resolution would disapprove the Financial Crimes Enforcement Network rule identified by its September 4, 2024 Federal Register publication and make that rule legally ineffective if enacted.
That Congress disapproves the rule submitted by the Financial Crimes Enforcement Network relating to Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers (89 Fed. Reg. 72156 (September 4, 2024)), and such rule shall have no force or effect.
The supplied September 29, 2025 source snapshot records introduction in the House and referral to the House Committee on Financial Services on February 12, 2025.
Source snapshot updated 2025-09-29T19:37:14Z. 2025-02-12: Referred to the House Committee on Financial Services. 2025-02-12: Introduced in House
A closer look
Reviewed version: Introduced in House · 2025-02-12. These findings describe provisions and who may benefit; they are not judgments of waste, corruption, or motive.
This review covers the supplied bill text. “None identified” does not rule out provisions in later versions or accompanying reports and disclosures.
Provisions outside the bill’s main subject, or policy changes attached to appropriations.
None identified in the reviewed text
No unrelated provision was identified in the complete supplied introduced text. This conclusion is limited to that version and does not establish absence in other versions or accompanying materials.
Spending directed to particular recipients or places outside ordinary competitive or formula-based allocation.
None identified in the reviewed text
No congressionally directed spending for particular recipients or places was identified in the complete supplied introduced text. This conclusion is limited to that version; accompanying earmark disclosures and reports are not supplied.
Narrow exceptions, exemptions, or preferential treatment that warrant a closer look.
None identified in the reviewed text
No materially narrow carve-out, special exemption, or preferential exception was identified in the complete supplied introduced text. The scope of the central policy alone does not establish such a benefit. This conclusion does not extend to other versions or accompanying materials.
Full text preserved for this analysis. Legislative record snapshot: Sep 29, 2025. How PlainBill uses AI