Foreign Affiliates Sharing Pilot Program Extension Act

Bill: 118-hr-5524
Sponsor: full_name: Rep. Garcia, Sylvia R. [D-TX-29]
Introduced: 2023-09-18
Policy area: Finance and Financial Sector
Subjects: Business records

Foreign and international corporations

Fraud offenses and financial crimes

Public-private cooperation
Latest action: action_date: 2023-12-13
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2023-09-18
action_desc: Introduced in House
text: <p><b>Foreign Affiliates Sharing Pilot Program Extension Act </b></p> <p>This bill extends a pilot program that allows financial institutions to share suspicious activity reports with foreign affiliates for the purpose of combatting illicit financial activity. Currently, the program has not been implemented and is set to terminate January 1, 2024. The bill extends the termination date to three years after the Department of the Treasury issues rules for the pilot program. </p>

action_date: 2023-12-11
action_desc: Reported to House
text: <p></p><p><strong>Foreign Affiliates Sharing Pilot Program Extension Act&nbsp;</strong></p><p>This bill extends a pilot program that allows financial institutions to share suspicious activity reports with foreign affiliates for the purpose of combatting illicit financial activity. Currently, the program has not been implemented and is set to terminate January 1, 2024. The bill extends the termination date to three years after the Department of the Treasury issues rules for the pilot program.</p>

action_date: 2023-12-12
action_desc: Passed House
text: <p><strong>Foreign Affiliates Sharing Pilot Program Extension Act&nbsp;</strong></p><p>This bill extends a pilot program that allows financial institutions to share suspicious activity reports with foreign affiliates for the purpose of combatting illicit financial activity. Currently, the program has not been implemented and is set to terminate January 1, 2024. The bill extends the termination date to three years after the Department of the Treasury issues rules for the pilot program.</p>

tv_txt: IIB 118th CONGRESS 1st Session H. R. 5524 IN THE SENATE OF THE UNITED STATES December 13, 2023 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To amend the start date of the pilot program on sharing with foreign branches, subsidiaries and affiliates.

1. Short title This Act may be cited as the Foreign Affiliates Sharing Pilot Program Extension Act . 2. Foreign affiliates sharing pilot program Section 5318(g)(8)(B)(iii) of title 31, United States Code, is amended by striking 3 years after the date of enactment of this paragraph and inserting 3 years after the date on which the Secretary of the Treasury issues rules pursuant to subparagraph (A) .

Passed the House of Representatives December 12, 2023. Kevin F. McCumber, Clerk.

tv_txt: I 118th CONGRESS 1st Session H. R. 5524 IN THE HOUSE OF REPRESENTATIVES AN ACT To amend the start date of the pilot program on sharing with foreign branches, subsidiaries and affiliates.

1. Short title This Act may be cited as the Foreign Affiliates Sharing Pilot Program Extension Act . 2. Foreign affiliates sharing pilot program Section 5318(g)(8)(B)(iii) of title 31, United States Code, is amended by striking 3 years after the date of enactment of this paragraph and inserting 3 years after the date on which the Secretary of the Treasury issues rules pursuant to subparagraph (A) .

Passed the House of Representatives December 12, 2023. Cheryl L. Johnson, Clerk.

tv_txt: IB Union Calendar No. 245 118th CONGRESS 1st Session H. R. 5524 [Report No. 118–304] IN THE HOUSE OF REPRESENTATIVES September 18, 2023 Ms. Garcia of Texas introduced the following bill; which was referred to the Committee on Financial Services December 11, 2023 Additional sponsor: Mr. Sherman December 11, 2023 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed Strike out all after the enacting clause and insert the part printed in italic For text of introduced bill, see copy of bill as introduced on September 18, 2023 A BILL To amend the start date of the pilot program on sharing with foreign branches, subsidiaries and affiliates.

1. Short title This Act may be cited as the Foreign Affiliates Sharing Pilot Program Extension Act . 2. Foreign affiliates sharing pilot program Section 5318(g)(8)(B)(iii) of title 31, United States Code, is amended by striking 3 years after the date of enactment of this paragraph and inserting 3 years after the date on which the Secretary of the Treasury issues rules pursuant to subparagraph (A) .

December 11, 2023 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

tv_txt: I 118th CONGRESS 1st Session H. R. 5524 IN THE HOUSE OF REPRESENTATIVES September 18, 2023 Ms. Garcia of Texas introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the start date of the pilot program on sharing with foreign branches, subsidiaries and affiliates.

1. Short title This Act may be cited as the Foreign Affiliates Sharing Pilot Program Extension Act . 2. Foreign affiliates sharing pilot program Section 5318(g)(8)(B)(iii) of title 31, United States Code, is amended by striking 3 years after the date of enactment of this paragraph and inserting 3 years after the date that the Secretary of the Treasury issues rules pursuant to subparagraph (A) .