H.R. 7734 · 117th Congress
Timely Delivery of Bank Secrecy Act Reports Act
- Stage
- Passed a chamber
- Sponsor
- Maxine Waters
- Introduced
- 2022-05-12
- Latest action
- 2022-07-27 · Motion to reconsider laid on the table Agreed to without objection.
Summary
Timely Delivery of Bank Secrecy Act Reports Act
This bill requires the Department of the Treasury to provide Bank Secrecy Act (BSA) reports to a congressional committee or subcommittee not later than 30 days after a request. Under the BSA, financial institutions must keep records of certain transactions and report suspicious activity indicative of money laundering or other criminal activity.
Additionally, when subpoenaed, a financial institution must provide such reports to a congressional committee or subcommittee.