arrow_back Back to App

Terrorist Payment Prevention Act: New Rules for Banks

This act aims to make it harder for terrorist organizations to access money by tightening banking regulations. Citizens may feel increased security as it will be more difficult to fund terrorist activities. Banks will need to scrutinize transactions more closely, which might affect the speed of some international operations.
Key points
Foreign banks assisting terrorists may lose the ability to hold accounts in the U.S.
The U.S. Treasury Department will be able to more easily identify banks supporting terrorism.
The goal is to cut off funding for terrorist groups that target U.S. citizens.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_1408
Sponsor: Rep. Lamborn, Doug [R-CO-5]
Process start date: 2023-03-07
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Taylor Force Martyr Payment Prevention Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1408.

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 2023-03-07.

What are the main provisions?

Key points include:

  • Foreign banks assisting terrorists may lose the ability to hold accounts in the U.S.
  • The U.S. Treasury Department will be able to more easily identify banks supporting terrorism.
  • The goal is to cut off funding for terrorist groups that target U.S. citizens.
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. Lamborn, Doug [R-CO-5].

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 2025-12-24.

CATEGORIES

Security Courts and Law Economy