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More Private Companies Join Financial Crime Fight Program

This bill allows more types of private companies, not just banks, to join a government program that helps identify and stop financial crimes like money laundering. The goal is to improve efforts against illegal money activities, potentially leading to a safer financial system for everyone.
Key points
More private companies can now share information with the government to help stop financial crimes.
These new participants can only use the shared information to assist banks or government agencies in fighting financial crime.
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Expired
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Additional Information
Print number: 117_HR_5320
Sponsor: Rep. Torres, Ritchie [D-NY-15]
Process start date: 2021-09-21
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Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Financial Crimes Enforcement Network Exchange Improvement Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_5320.

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 2021-09-21.

What are the main provisions?

Key points include:

  • More private companies can now share information with the government to help stop financial crimes.
  • These new participants can only use the shared information to assist banks or government agencies in fighting financial crime.
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. Torres, Ritchie [D-NY-15].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Courts and Law Economy