S. 3876 · 117th Congress
Special Measures to Fight Modern Threats Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WarnerSponsorNo cosponsors.
This bill expands the special measures available to the Financial Crimes Enforcement Network (FinCEN) to combat money laundering regarding
What it does: CRS summary · Introduced in Senate · Mar 17, 2022
Special Measures to Fight Modern Threats Act
This bill expands the special measures available to the Financial Crimes Enforcement Network (FinCEN) to combat money laundering regarding
- a jurisdiction outside of the United States;
- a financial institution operating outside of the United States;
- a class of transaction within, or involving, a jurisdiction outside of the United States; or
- one or more types of accounts.
Specifically, FinCEN may prohibit or impose conditions upon the opening or maintaining in the United States of a correspondent account or payable-through account by any domestic financial institution or domestic financial agency without requiring, as under current law, that such account be for or on behalf of a foreign banking institution.
Further, FinCEN may prohibit or impose conditions upon certain transmittals of funds to or from any domestic financial institution or domestic financial agency if such transmittal of funds involves any such jurisdiction, institution, class of transaction, or type of account.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Special Measures to Fight Modern Threats Act
Latest action (Mar 17, 2022): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Mar 17, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.