Title: To direct the Secretary of the Treasury and the Attorney General to jointly conduct a study on the efforts of authoritarian regimes in foreign countries to exploit the financial system of the United States, and for other purposes.
Policy area: Finance and Financial Sector

Summary:
This bill directs the Department of the Treasury and the Department of Justice to jointly report on the use of the U.S. financial system by foreign authoritarian regimes to conduct political influence operations, sustain kleptocratic methods of maintaining power, and otherwise undermine democratic governance in the United States and its partners and allies.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8796 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 8796

  To direct the Secretary of the Treasury and the Attorney General to 
  jointly conduct a study on the efforts of authoritarian regimes in 
foreign countries to exploit the financial system of the United States, 
                        and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           November 20, 2020

 Mr. Casten of Illinois (for himself and Mr. Riggleman) introduced the 
   following bill; which was referred to the Committee on Financial 
                                Services

_______________________________________________________________________

                                 A BILL


 
  To direct the Secretary of the Treasury and the Attorney General to 
  jointly conduct a study on the efforts of authoritarian regimes in 
foreign countries to exploit the financial system of the United States, 
                        and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. STUDY AND REPORT ON THE EFFORTS OF AUTHORITARIAN REGIMES IN 
              FOREIGN COUNTRIES TO EXPLOIT THE FINANCIAL SYSTEM OF THE 
              UNITED STATES.

    (a) Study.--
            (1) In general.--Not later than 1 year after the date of 
        the enactment of this section, the Secretary of the Treasury 
        and the Attorney General shall jointly conduct a study on how 
        authoritarian regimes in foreign countries and the proxies of 
        such regimes use the financial system of the United States to--
                    (A) conduct political influence operations;
                    (B) sustain kleptocratic methods of maintaining 
                power;
                    (C) export corruption;
                    (D) fund nongovernmental organizations, media 
                organizations, or academic initiatives in the United 
                States to advance the interests of such regimes; and
                    (E) otherwise undermine democratic governance in 
                the United States and the partners and allies of the 
                United States.
            (2) Consultation.--The Secretary of the Treasury and the 
        Attorney General shall carry out the study required under 
        paragraph (1) in consultation with the heads of other relevant 
        national security, intelligence, and law enforcement agencies.
    (b) Report.--Not later than 2 years after the date of the enactment 
of this section, the Secretary of the Treasury shall submit to the 
Committee on Banking, Housing, and Urban Affairs of the Senate and the 
Committee on Financial Services of the House of Representatives a 
report that includes--
            (1) the results of the study required under subsection 
        (a)(1); and
            (2) any recommendations for legislative or regulatory 
        action, or steps to be taken by United States financial 
        institutions, that would address exploitation of the financial 
        system of the United States by authoritarian regimes in foreign 
        countries and the proxies of such regimes.
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