H.R. 1984 · 112th Congress
Small Business Banking Improvement Act of 2011
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PolisSponsor11 cosponsors · 10 D, 1 R
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Frank
RP
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Paul
PS
D
Stark
RG
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Grijalva
ZL
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Lofgren
EB
D
Blumenauer
JM
D
Moran
BL
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Lee
EP
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Perlmutter
DD
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DeGette
JO
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Olver3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Small Business Banking Improvement Act of 2011 - Prohibits the Secretary of the Treasury from requiring any financial institution or any of its directors, officers, employees, or agents to report any suspicious transaction relevant to a possible violation of law or regulation if a person involved in such transaction is a legitimate business.
What it does: CRS summary · Introduced in House · May 25, 2011
Small Business Banking Improvement Act of 2011 - Prohibits the Secretary of the Treasury from requiring any financial institution or any of its directors, officers, employees, or agents to report any suspicious transaction relevant to a possible violation of law or regulation if a person involved in such transaction is a legitimate business.
Deems a person a legitimate business if the governor of each state in which such person does business has certified to the Secretary that: (1) the person is a business engaged in activities currently legal under state law, and (2) the state has an interest in exempting such person from mandatory reporting of suspicious transactions.
Requires the Secretary to maintain a public website with a list of all persons deemed to be a legitimate business for purposes of this Act.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Banking Improvement Act of 2011
Latest action (Jul 29, 2011): Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Policy area: Finance and Financial Sector · Origin: House · Introduced: May 25, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.