COUNTER Act of 2019

Bill: 116-hr-2514
Sponsor: Rep. Cleaver, Emanuel [D-MO-5]
Introduced: 2019-05-03 in the House
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures
Administrative remedies
Advanced technology and technological innovations
Advisory bodies
Archaeology and anthropology
Art, artists, authorship
Asia
Banking and financial institutions regulation
Business ethics
Business records
China
Civil actions and liability
Computer security and identity theft
Computers and information technology
Congressional oversight
Corporate finance and management
Crime prevention
Currency
Department of the Treasury
Diplomacy, foreign officials, Americans abroad
Employee hiring
Employment discrimination and employee rights
Evidence and witnesses
Executive Office of the President
Financial services and investments
Foreign and international banking
Fraud offenses and financial crimes
Government employee pay, benefits, personnel management
Government information and archives
Government studies and investigations
Historical and cultural resources
Inflation and prices
International monetary system and foreign exchange
International organizations and cooperation
Judicial review and appeals
Law enforcement administration and funding
Lawyers and legal services
Multilateral development programs
Organized crime
Performance measurement
Public contracts and procurement
Public-private cooperation
Real estate business
Right of privacy
Russia
Sanctions
Smuggling and trafficking
Technology assessment
Terrorism

Summary:
action_date: 2019-05-03
text: 

Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform Act of 2019 or the COUNTER Act of 2019 

 
This bill generally revises requirements related to anti-money-laundering and counter-terrorism-financing laws. 
 
Among other things, the bill 
 
 
establishes new offices within financial regulatory agencies related to privacy and civil liberties; 
 
creates programs within the Department of the Treasury to enable foreign and domestic outreach regarding these laws; 
 
allows for increased information sharing between law enforcement, financial institutions, and financial regulators; and 
 
revises whistleblower incentives related to actions brought by the Financial Crimes Enforcement Network (FinCEN). 
 
 
The bill also increases penalties for violations of anti-money-laundering and counter-terrorism-financing laws, requires antiquities and art dealers to comply with these laws, and requires the reporting of beneficial ownership information to FinCEN in certain commercial real estate transactions. 

action_date: 2019-10-21
text: 

Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform Act of 2019 or the COUNTER Act of 2019 

 
This bill generally revises requirements related to anti-money-laundering and counter-terrorism-financing laws. 
 
Among other things, the bill 
 
 
establishes new offices within financial regulatory agencies related to privacy and civil liberties; 
 
creates programs within the Department of the Treasury to enable foreign and domestic outreach regarding these laws; 
 
allows for increased information sharing between law enforcement, financial institutions, and financial regulators; and 
 
revises whistleblower incentives related to actions brought by the Financial Crimes Enforcement Network (FinCEN). 
 
 
The bill also increases penalties for violations of anti-money-laundering and counter-terrorism-financing laws, requires antiquities dealers to comply with these laws, and requires the reporting of beneficial ownership information to FinCEN in certain commercial real estate transactions. 
 
Every five years, Treasury must update the threshold amounts for currency transaction reports to reflect inflation.

action_date: 2019-10-28
text: 

Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform Act of 2019 or the COUNTER Act of 2019 

 
This bill generally revises requirements related to anti-money-laundering and counter-terrorism-financing laws. 
 
Among other things, the bill 
 
 
establishes new offices within financial regulatory agencies related to privacy and civil liberties; 
 
creates programs within the Department of the Treasury to enable foreign and domestic outreach regarding these laws; 
 
allows for increased information sharing between law enforcement, financial institutions, and financial regulators; and 
 
revises whistleblower incentives related to actions brought by the Financial Crimes Enforcement Network (FinCEN). 
 
 
The bill also increases penalties for violations of anti-money-laundering and counter-terrorism-financing laws, requires antiquities dealers to comply with these laws, and requires the reporting of beneficial ownership information to FinCEN in certain commercial real estate transactions. 
 
Every five years, Treasury must update the threshold amounts for currency transaction reports to reflect inflation.


Legislative actions:
action_date: 2019-10-29
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2019-10-28
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2019-10-28
text: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8494-8501)
action_date: 2019-10-28
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8494-8501)
action_date: 2019-10-28
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 2514.
action_date: 2019-10-28
text: Considered under suspension of the rules. (consideration: CR H8494-8503)
action_date: 2019-10-28
text: Mr. Scott, David moved to suspend the rules and pass the bill, as amended.
action_date: 2019-10-21
text: Placed on the Union Calendar, Calendar No. 195.
action_date: 2019-10-21
text: Committee on Ways and Means discharged.
action_date: 2019-10-21
text: Committee on Ways and Means discharged.
action_date: 2019-10-21
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 116-245, Part I.
action_date: 2019-10-21
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 116-245, Part I.
action_date: 2019-05-03
text: Referred to the Subcommittee on Trade.
action_date: 2019-05-03
text: Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, 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 concerned.
action_date: 2019-05-03
text: Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, 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 concerned.
action_date: 2019-05-03
text: Introduced in House
action_date: 2019-05-03
text: Introduced in House