HR 1602
Advanced toward a vote
Requires the Treasury Secretary to report yearly to Congress on how federal agencies access and share Bank Secrecy Act reports, and to review the rules governing that access, with these reporting requirements ending after seven years.
Official title: Financial Privacy Act of 2025
Timeline each lane is a chamber; dates pull from congress.gov actions
House
Introduced
26-FEB-2025
Referred
26-FEB-2025
Approved by committee
05-MAR-2025
Reported
21-MAR-2025
On the calendar
21-MAR-2025
- Requires the Treasury Secretary to report to the House Financial Services and Senate Banking committees within 180 days of enactment and annually after, covering report counts, retention, and agency access protocols.
- Requires an annual review of those access protocols with the Director of National Intelligence and the Attorney General, aimed at limiting unauthorized disclosure and protecting privacy and civil liberties.
- Requires the Secretary to give committee chairs and ranking members copies of the protocols on request and to send committees any revised protocols within 30 days of a change.
- Repeals the new reporting section seven years after the date of enactment.
Covers an older version. The newest CRS summary describes the bill as of "Introduced in House" (26-FEB-2025); the text has changed since (Reported in House, 21-MAR-2025).
CRS is the Library of Congress's nonpartisan research office. Read it on congress.gov- Financial Services Committee (House)
Finance and Financial Sector
■ 1 D
1 Democrat