H.R. 533

119th Congress

In Committee

Bank Privacy Reform Act

Sponsored byRepublican:Rep. Rose, John W. [R-TN-6]TN· Introduced 16 January 2025
Open on Congress.gov

1

Cosponsors

3

Actions

0

Amendments

0

Committees

—

Since introduced

Introduced
Committee
Passed Chamber
Passed Both
Enacted
Step 1 of 0
Latest action

Referred to the House Committee on Financial Services.

16 January 2025·1 year ago

Summary

Introduced in House · Updated 15 April 2025

Bank Privacy Reform Act

This bill eliminates provisions that require financial institutions to report certain financial information to specified government agencies. Currently, financial institutions are required to report certain financial transactions (e.g., transfers of over $10,000) for the purpose of detecting illicit activity, such as money laundering or the financing of terrorism. Under the bill, such records are only obtainable through a search warrant.

The bill also eliminates reporting requirements related to the beneficial ownership of certain corporate entities.

Timeline

3 actions

  1. Referred to the House Committee on Financial Services.

    16 January 2025 · IntroReferral

  2. Introduced in House

    16 January 2025 · IntroReferral

  3. Introduced in House

    16 January 2025 · IntroReferral

Sponsorship

1 cosponsors

Sponsor

Republican:Rep. Rose, John W. [R-TN-6]TN

Cosponsors

  • Republican1100%

Classification

Policy area

Finance and Financial Sector
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