OFAC Licensure for Investigators Act

Bill: 119-hr-1450
Sponsor: Rep. Beatty, Joyce [D-OH-3]
Introduced: 2025-02-21 in the House
Policy area: International Affairs
Subjects: Congressional oversight
Financial services and investments
Fraud offenses and financial crimes
Licensing and registrations

Summary:
action_date: 2025-02-21
text: 

OFAC Licensure for Investigators Act

This bill requires the Office of Foreign Assets Control (OFAC) to establish a pilot program to license eligible private sector firms to conduct nominal financial transactions as part of the firm's sanctions-related investigations.

A firm that receives a license must submit monthly reports to OFAC on activities conducted under the license.

(OFAC, within the Department of the Treasury, is one of the primary agencies responsible for enforcing economic sanctions. OFAC requires firms to take various actions, such as ensuring that they are not engaging in transactions with entities subject to U.S. sanctions. A firm may also provide voluntary self-disclosures to OFAC with information from a firm's investigation of suspicious activities.)


Legislative actions:
action_date: 2025-07-22
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2025-07-21
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2025-07-21
text: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H3517)
action_date: 2025-07-21
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H3517)
action_date: 2025-07-21
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 1450.
action_date: 2025-07-21
text: Considered under suspension of the rules. (consideration: CR H3517-3518: 1)
action_date: 2025-07-21
text: Mr. Hill (AR) moved to suspend the rules and pass the bill.
action_date: 2025-03-27
text: Placed on the Union Calendar, Calendar No. 34.
action_date: 2025-03-27
text: Committee on Foreign Affairs discharged.
action_date: 2025-03-27
text: Committee on Foreign Affairs discharged.
action_date: 2025-03-27
text: Reported by the Committee on Financial Services. H. Rept. 119-47, Part I.
action_date: 2025-03-27
text: Reported by the Committee on Financial Services. H. Rept. 119-47, Part I.
action_date: 2025-03-05
text: Ordered to be Reported by the Yeas and Nays: 49 - 0.
action_date: 2025-03-05
text: Committee Consideration and Mark-up Session Held
action_date: 2025-02-21
text: 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 concerned.
action_date: 2025-02-21
text: 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 concerned.
action_date: 2025-02-21
text: Introduced in House
action_date: 2025-02-21
text: Introduced in House