I 
119TH CONGRESS 
1ST SESSION H. R. 1531 
To direct certain financial regulators to exclude representatives of the People’s 
Republic of China from certain banking organizations upon notice of 
certain threats or danger, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 24, 2025 
Mr. LUCAS (for himself and Mr. VICENTE GONZALEZ of Texas) introduced the 
following bill; which was referred to the Committee on Financial Services, 
and in addition to the Committee on Foreign Affairs, for a period to be 
subsequently determined by the Speaker, in each case for consideration 
of such provisions as fall within the jurisdiction of the committee con-
cerned 
A BILL 
To direct certain financial regulators to exclude representa-
tives of the People’s Republic of China from certain 
banking organizations upon notice of certain threats or 
danger, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Pressure Regulatory 
Organizations To End Chinese Threats to Taiwan Act’’ 
or the ‘‘PROTECT Taiwan Act’’. 
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SEC. 2. STATEMENT OF POLICY REGARDING THE EXCLU-
SION OF REPRESENTATIVES OF THE PEO-
PLE’S REPUBLIC OF CHINA FROM CERTAIN 
BANKING ORGANIZATIONS UPON NOTICE OF 
CERTAIN THREATS OR DANGER. 
(a) IN GENERAL.—If the President, pursuant to sec-
tion 3(c) of the Taiwan Relations Act (22 U.S.C. 3302(c)), 
informs the Congress of any threat to the security or the 
social or economic system of the people on Taiwan and 
any danger to the interests of the United States arising 
therefrom resulting from actions of the People’s Republic 
of China, it is the policy of the United States to seek to 
exclude representatives of the People’s Republic of China, 
to the maximum extent practicable, from participation in 
meetings, proceedings, and other activities of the following 
organizations: 
(1) The Group of Twenty. 
(2) The Bank for International Settlements. 
(3) The Financial Stability Board. 
(4) The Basel Committee on Banking Super-
vision. 
(5) The International Association of Insurance 
Supervisors. 
(6) The International Organization of Securities 
Commissions. 
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(b) POLICY ADVANCEMENT.—The Secretary of the 
Treasury, the Board of Governors of the Federal Reserve 
System, and the Securities and Exchange Commission, 
shall take all necessary steps to advance the policy set 
forth in subsection (a). 
(c) WAIVER.—The President may waive the applica-
tion of subsection (a) with respect to an organization upon 
submission of a report to the Committee on Financial 
Services of the House of Representatives and the Com-
mittee on Banking, Housing, and Urban Affairs of the 
Senate— 
(1) that such waiver is in the national interest 
of the United States; and 
(2) that contains an explanation of the reasons 
therefor. 
(d) SUNSET.—This Act and the requirements of this 
Act shall have no force or effect on the date that is the 
earlier of— 
(1) 5 years after the date of the enactment of 
this Act; or 
(2) 30 days after the date on which the Presi-
dent notifies Congress that the termination of this 
Act is in the national interest of the United States. 
Æ 
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