I 
118TH CONGRESS 
1ST SESSION H. R. 2963 
To provide for further congressional oversight of the Financial Crimes 
Enforcement Network (FinCEN), and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 27, 2023 
Mr. LOUDERMILK introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To provide for further congressional oversight of the Finan-
cial Crimes Enforcement Network (FinCEN), 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 ‘‘FinCEN Account-
ability Act of 2023’’. 
SEC. 2. TRANSPARENCY WITH CONTROLLING DOCUMENTS. 
(a) DEFINITION OF CONTROLLING DOCUMENT.—As 
used in this section, the term ‘‘controlling document’’ re-
fers to any record (as defined in section 3301 of title 44, 
United States Code) issued by or under the authority of 
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the Secretary, Deputy Secretary, Under Secretary for En-
forcement, or any other officer or employee of the Depart-
ment of the Treasury, that delegates authority to the Fi-
nancial Crimes Enforcement Network or its Director, or 
contains direction binding upon the Financial Crimes En-
forcement Network or its Director, in the implementation 
of section 310 of title 31, United States Code, or the Bank 
Secrecy Act, including delegations, prescriptions, regula-
tions, protocols, priorities, policies, standards, guidelines, 
and requirements issued in accordance with subsections 
(b)(2)(C), (b)(2)(E), (b)(2)(I), (b)(2)(J), (b)(2)(O), (c), 
and (i)(2)(C)(ii) of section 310 of such title 31 and sub-
sections (b)(1), (b)(2), (b)(4), (c)(2)(A), (c)(2)(C), (c)(3), 
(c)(5), (d)(3), and (h)(3)(C)(i)(I)(bb) of section 5336 of 
such title 31. 
(b) DISCLOSURE TO CONGRESS.—The Secretary of 
the Treasury shall promptly provide to the Committee on 
Financial Services of the House of Representatives and 
the Committee on Banking, Housing, and Urban Affairs 
of the Senate— 
(1) controlling documents in force as of the en-
actment of this Act; 
(2) any controlling documents issued thereafter; 
and 
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(3) any changes to controlling documents de-
scribed in paragraphs (1) and (2) made thereafter, 
including any revocations thereof. 
(c) DISCLOSURE TO THE PUBLIC.—The Secretary of 
the Treasury shall make available promptly to the public 
the controlling documents and changes that the Secretary 
is required to provide to the committees listed in sub-
section (b), excluding such reasonably segregable portions 
of controlling documents or changes as would fall within 
an exemption in section 552(b) of title 5, United States 
Code. 
SEC. 3. TRANSPARENCY IN RULEMAKING AND SECRE-
TARIAL EXCEPTIONS. 
(a) RESERVATION TO THE SECRETARY OF AUTHOR-
ITY TO MAKE EXCEPTIONS.—No officer or employee of 
the Department of the Treasury, except the Secretary of 
the Treasury or the person performing the duties of the 
Secretary of the Treasury when that office is vacant or 
the Secretary is unable to perform the duties of that office, 
shall, with respect to a proposed or final rule relating to 
activities of the Financial Crimes Enforcement Network, 
including implementation of the Bank Secrecy Act— 
(1) make findings of good cause under sub-
section (b) or (d) of section 553 of title 5, United 
States Code; 
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(2) exercise authority to certify, delay, or waive 
under section 605 or 608 of title 5, United States 
Code; or 
(3) make findings of good cause under section 
808(2) of title 5, United States Code. 
(b) COVERED AGENCY STATUS FOR REGULATORY 
FLEXIBILITY.—Section 310 of title 31, United States 
Code, is amended by adding at the end thereof the fol-
lowing new subsection: 
‘‘(m) The Financial Crimes Enforcement Network 
shall be a ‘covered agency’ for purposes of section 609(d) 
of title 5.’’. 
SEC. 4. TESTIMONY BY THE DIRECTOR OF FINCEN. 
Section 5336(c)(11)(A) of title 31, United States 
Code, is amended by striking ‘‘5 years’’ and inserting ‘‘10 
years’’. 
SEC. 5. BANK SECRECY ACT DEFINED. 
In this Act, the term ‘‘Bank Secrecy Act’’ means— 
(1) section 21 of the Federal Deposit Insurance 
Act (12 U.S.C. 1829b); 
(2) chapter 2 of title I of Public Law 91–508 
(12 U.S.C. 1951 et seq.); and 
(3) subchapter II of chapter 53 of title 31, 
United States Code. 
Æ 
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