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Increased Financial Transparency for Sanctioned Entities

New rules enhance transparency regarding financial services provided to state sponsors of terrorism, human rights abusers, and corrupt officials. Citizens will gain more awareness of how US financial institutions interact with sanctioned entities, potentially impacting financial security and national reputation.
Key points
The Treasury Department will regularly publish reports on licenses issued to financial institutions for services to sanctioned entities.
Reports will cover state sponsors of terrorism and individuals sanctioned for human rights abuses and corruption.
The reporting requirement will be in effect for 7 years from the act's enactment.
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Status:
Expired
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Additional Information
Banking Transparency for Sanctioned Persons Act of 2021
Print number: HR 2710
Sponsor: Rep. Steil, Bryan [R-WI-1]
Process start date: 2021-04-20
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch
Summary & Status

Key Questions about Increased Financial Transparency for Sanctioned Entities

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is HR 2710.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-04-20.

What are the main provisions?

Key points include:

  • The Treasury Department will regularly publish reports on licenses issued to financial institutions for services to sanctioned entities.
  • Reports will cover state sponsors of terrorism and individuals sanctioned for human rights abuses and corruption.
  • The reporting requirement will be in effect for 7 years from the act's enactment.

What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Steil, Bryan [R-WI-1].

What is the latest detailed status?

The latest detailed status is: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8158)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

Analysis and Potential Impact of HR 2710

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Courts and Law Economy Security