LEGISLATION/H.R. 5524

Foreign Affiliates Sharing Pilot Program Extension Act

118-HR-5524118th CongressIntroduced Sep 18, 2023Finance and Financial Sector

Market Probability

No market

Status

Introduced

Committee

Floor Vote

Other Chamber

Signed

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsor

Rep. Garcia, Sylvia R. [D-TX-29](D-TX-29)

1 cosponsor

Summary

Foreign Affiliates Sharing Pilot Program Extension Act

This bill extends a pilot program that allows financial institutions to share suspicious activity reports with foreign affiliates for the purpose of combatting illicit financial activity. Currently, the program has not been implemented and is set to terminate January 1, 2024. The bill extends the termination date to three years after the Department of the Treasury issues rules for the pilot program.

Subjects

Business recordsForeign and international corporationsFraud offenses and financial crimesPublic-private cooperation

Actions (17)

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Dec 13, 2023Senate

Motion to reconsider laid on the table Agreed to without objection.

Dec 12, 2023House floor actions

On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 396 - 28 (Roll no. 714). (text: 12/11/2023 CR H6753)

Dec 12, 2023House floor actionsRECORDED VOTE

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 396 - 28 (Roll no. 714). (text: 12/11/2023 CR H6753)

Dec 12, 2023Library of CongressRECORDED VOTE

Considered as unfinished business. (consideration: CR H6835-6836)

Dec 12, 2023House floor actions

At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.