United StatesFinCEN Oversight and Accountability Act of 2025
What it does
This bill requires the Department of the Treasury to keep specified congressional committees informed of the activity of the Financial Crimes Enforcement Network (FinCEN), particularly regarding unlawful activity and any resulting corrective action.
More detail
Further, Treasury must disclose to Congress and to the public (with some exclusions) all controlling documents delegating authority to or providing direction to FinCEN. Such disclosure includes any controlling documents in force upon enactment, any controlling documents issued thereafter, and any changes to controlling documents.
The bill extends for an additional five years the time period during which Treasury must testify before Congress regarding FinCEN’s anti-money laundering programs.
FinCEN must also hold an annual small business working group to provide guidance on beneficial ownership reporting obligations.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Jan 3Introduced in HouseLatest
- Jan 3Referred to the House Committee on Financial Services.Introduced