Financial Privacy Act of 2025
- Bill Number
- H.R. 1602
- Origin Chamber
- House
- Congress
- 119th Congress, Session 1
- Policy Area
- Finance and Financial Sector
- Status
- Introduced
- Latest Action
- 2025-03-21: Placed on the Union Calendar, Calendar No. 14.
- Last Updated
- 2025-10-09T00:11:25Z
Official Summary
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.
Sponsor
Rep. Davidson, Warren [R-OH-8]
Cosponsors (1)
Recent Actions
- 2025-03-21: Placed on the Union Calendar, Calendar No. 14.
- 2025-03-21: Reported (Amended) by the Committee on Financial Services. H. Rept. 119-24.
- 2025-03-21: Reported (Amended) by the Committee on Financial Services. H. Rept. 119-24.
- 2025-03-05: Ordered to be Reported (Amended) by the Yeas and Nays: 48 - 0.
- 2025-03-05: Committee Consideration and Mark-up Session Held
- 2025-02-26: Referred to the House Committee on Financial Services.
- 2025-02-26: Introduced in House
- 2025-02-26: Introduced in House
Bill Versions
- Financial Privacy Act of 2025 — issued 2025-02-26 — PDF (6 pages)
- Financial Privacy Act of 2025 — issued 2025-03-21 — PDF (8 pages)