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Banking Privacy Act: Prohibiting New Financial Reporting Requirements

This bill aims to protect the financial privacy of citizens and businesses. If passed, the government would be prohibited from implementing new requirements for reporting inflows and outflows from individual and business bank accounts. This means your daily banking transactions would not be subject to new, additional reporting obligations for the government.
Key points
Prohibits new reporting requirements for individual and business bank transactions.
Protects financial privacy by limiting government access to detailed account flow data.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_5475
Sponsor: Rep. Van Drew, Jefferson [R-NJ-2]
Process start date: 2021-09-30
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Banking Privacy Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_5475.

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 2021-09-30.

What are the main provisions?

Key points include:

  • Prohibits new reporting requirements for individual and business bank transactions.
  • Protects financial privacy by limiting government access to detailed account flow data.
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. Van Drew, Jefferson [R-NJ-2].

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

Economy