CONGRESS FOR VOTERS

RepublicanBill · H.R. 147· House(119-HR-147)

FinCEN Oversight and Accountability Act of 2025

Rep. Davidson
Age: 56 years
Ohio
Introduced
1/3/2025
Last activity
1/3/2025 — Referred to the House Committee on Financial Services.
Sponsored by
Warren Davidson
Cosponsors
None
Finance and Financial Sector
  1. Introduced
  2. In Committee

What this bill would do

The FinCEN Oversight and Accountability Act of 2025 aims to improve the Financial Crimes Enforcement Network. It requires the Secretary of the Treasury to keep congressional committees informed about the Network's activities and any unlawful activity. The bill mandates the disclosure of controlling documents to both Congress and the public. It also extends the timeframe for certain testimony requirements regarding the Director of FinCEN. Additionally, the Act establishes annual small business working groups to share information and provide guidance on beneficial ownership reporting.

Yes

  • Does this make what the government does easier for the public to see?+6

    The bill requires the disclosure of controlling documents to both Congress and the public to increase transparency regarding FinCEN's authority.

  • Would business owners be better off under this?+5

    The bill mandates annual working groups to provide guidance to small businesses regarding their beneficial ownership reporting obligations.

  • Does this make it easier to run a small business?+5

    The bill establishes annual small business working groups to promote coordination with FinCEN and provide guidance on reporting obligations.

The opposite

No question was scored the opposite.