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HR. 1602 · 119th Congress

Financial Privacy Act of 2025

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Bill details

Introduced: 2/26/2025
Status: Placed on the Union Calendar, Calendar No. 14.
Bill ID: 119hr1602
Latest action: Placed on the Union Calendar, Calendar No. 14.

Summary

Introduced in House

Financial Privacy Act of 2025 This bill requires the Department of the Treasury to annually report to Congress details of reports made to the Financial Crimes Enforcement Network (FinCEN). FinCEN collects reports on suspicious financial transactions and the beneficial ownership of companies in order to detect financial crimes, including money laundering. Under the bill, FinCEN must report on the number and types of reports and whether they are retained by FinCEN, any guidance regarding outside agency access to these reports, agency requests for these reports, and any denials of access to these reports. Treasury must annually review access guidance and revise as appropriate to protect the legal rights of U.S persons, among other objectives.

Source: BILLSUM · Summary date: 2/26/2025

District impact notes

1 notes
NEUTRAL
3/27/2026

The Financial Privacy Act of 2025 requires the Department of the Treasury to provide Congress with an annual report on suspicious financial transactions and company ownership data. • This policy could enhance local oversight of financial activities, potentially impacting how financial institutions operate in the area. • Local law enforcement and regulatory agencies may benefit from improved access to financial crime data, which could aid in investigations. • There may be questions about how effectively the bill balances transparency with the protection of individual privacy rights. AI-generated from official bill summary and plain-English note; verify with official text.

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Summary source label: BILLSUM
Congress.gov bill →GovInfo bill text (BILLS) →GovInfo summaries (BILLSUM) →OurCongress methodology →
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About this data

Non-partisan by design
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Official sources
Data is sourced from official government records (e.g., Congress.gov, GovInfo, Clerk of the House, and the U.S. Senate).
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Last updated: 3/27/2026Source: BILLSUMBill: 119hr1602Learn more →