H.R. 3700 · 113th Congress
Building Community Financial Institutions' Capacity to Combat Money Laundering Act
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
HinojosaSponsor2 cosponsors · 2 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Building Community Financial Institutions' Capacity to Combat Money Laundering Act - Establishes the BSA Compliance Fund.
What it does: CRS summary · Introduced in House · Dec 11, 2013
Building Community Financial Institutions' Capacity to Combat Money Laundering Act - Establishes the BSA Compliance Fund.
Requires deposit into the Fund of: (1) 25% of all civil money penalties imposed upon domestic financial institutions for violations related to mandatory reports and recordkeeping on monetary instruments transactions, and (2) 25% of any civil fine paid by a domestic financial institution for violations of other federal law with respect to actions for which a civil money penalty is also imposed for prohibited monetary transactions.
Instructs the Secretary of the Treasury to: (1) use the Fund to make grants to community financial institutions with under $10 billion in assets to improve their compliance with statutory requirements governing reports and recordkeeping on monetary instruments transactions, and (2) give grant priority to institutions located in counties that have 20% or more of residents living below the federal poverty line.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Building Community Financial Institutions' Capacity to Combat Money Laundering Act
Latest action (Dec 11, 2013): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Dec 11, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.