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Financial Privacy Protection and Government Oversight Limitation

This act aims to strengthen citizens' financial privacy by limiting government access to their banking data and transactions. It introduces new rules for digital currencies and increases Congressional oversight of federal agencies, potentially impacting daily finances and civil liberties.
Key points
Requires a search warrant for government access to financial records, enhancing privacy protection.
Prohibits the creation of a central bank digital currency (CBDC) issued directly to individuals.
Repeals the lower reporting threshold for third-party network transactions, easing small online payments.
Establishes criminal and civil penalties for unauthorized disclosure of financial records and provides for other relief.
Strengthens Congressional review of federal agency rules, requiring approval for major regulations.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_809
Sponsor: Sen. Lee, Mike [R-UT]
Process start date: 2025-02-27
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

Saving Privacy Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_809.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-02-27.

What are the main provisions?

Key points include:

  • Requires a search warrant for government access to financial records, enhancing privacy protection.
  • Prohibits the creation of a central bank digital currency (CBDC) issued directly to individuals.
  • Repeals the lower reporting threshold for third-party network transactions, easing small online payments.
  • Establishes criminal and civil penalties for unauthorized disclosure of financial records and provides for other relief.
  • Strengthens Congressional review of federal agency rules, requiring approval for major regulations.
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 Sen. Lee, Mike [R-UT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

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