H.R. 2514 · 116th Congress
Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform Act of 2019
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Passed the House without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 116th Congress ended.
D
CleaverSponsor2 cosponsors · 1 D, 1 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced May 3, 2019
- House Passed Oct 28, 2019
Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform Act of 2019 or the COUNTER Act of 2019
What it does: CRS summary · Passed House · Oct 28, 2019
Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform Act of 2019 or the COUNTER Act of 2019
This bill generally revises requirements related to anti-money-laundering and counter-terrorism-financing laws.
Among other things, the bill
- establishes new offices within financial regulatory agencies related to privacy and civil liberties;
- creates programs within the Department of the Treasury to enable foreign and domestic outreach regarding these laws;
- allows for increased information sharing between law enforcement, financial institutions, and financial regulators; and
- revises whistleblower incentives related to actions brought by the Financial Crimes Enforcement Network (FinCEN).
The bill also increases penalties for violations of anti-money-laundering and counter-terrorism-financing laws, requires antiquities dealers to comply with these laws, and requires the reporting of beneficial ownership information to FinCEN in certain commercial real estate transactions.
Every five years, Treasury must update the threshold amounts for currency transaction reports to reflect inflation.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: COUNTER Act of 2019
Latest action (Oct 29, 2019): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: House · Introduced: May 3, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- House Introduced May 3, 2019
- House Passed Oct 28, 2019
No recorded floor vote found.