PlainBillCongress, translated.Legislation. Context. Public interest.Placed on the Union Calendar, Calendar No. 14.
Congressional Research Service
Version 00 · Introduced in House · Feb 26, 2025
Financial Privacy Act of 2025
This bill requires the Department of the Treasury to annually report to Congress details of reports made to the Financial Crimes Enforcement Network (FinCEN). FinCEN collects reports on suspicious financial transactions and the beneficial ownership of companies in order to detect financial crimes, including money laundering.
Under the bill, FinCEN must report on the number and types of reports and whether they are retained by FinCEN, any guidance regarding outside agency access to these reports, agency requests for these reports, and any denials of access to these reports.
Treasury must annually review access guidance and revise as appropriate to protect the legal rights of U.S persons, among other objectives.
People & committees
Rep. Davidson, Warren [R-OH-8] · R–OH
Legislative record
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Placed on the Union Calendar, Calendar No. 14.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-24.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-24.
Ordered to be Reported (Amended) by the Yeas and Nays: 48 - 0.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Oct 9, 2025. Consult Congress.gov for the current record.
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Analyze H.R.1602 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.
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