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Increased Transparency and Oversight for FinCEN, Support for Small Businesses.

This act enhances Congressional oversight of FinCEN, the agency combating financial crimes. It mandates the disclosure of FinCEN's internal documents for greater transparency. Additionally, the act requires FinCEN to hold working group meetings with small businesses to help them understand new beneficial ownership reporting obligations.
Key points
Increased Congressional oversight of FinCEN's activities, including reporting of unlawful actions.
FinCEN must publicly disclose documents defining its authorities, enhancing transparency.
FinCEN will hold annual small business working groups to provide guidance on beneficial ownership reporting.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_147
Sponsor: Rep. Davidson, Warren [R-OH-8]
Process start date: 2025-01-03
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

FinCEN Oversight and Accountability Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_147.

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 2025-01-03.

What are the main provisions?

Key points include:

  • Increased Congressional oversight of FinCEN's activities, including reporting of unlawful actions.
  • FinCEN must publicly disclose documents defining its authorities, enhancing transparency.
  • FinCEN will hold annual small business working groups to provide guidance on beneficial ownership reporting.
What is the specific legal status?

The current status is Introduced.

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. Davidson, Warren [R-OH-8].

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 2025-12-22.

CATEGORIES

Economy Courts and Law