H.R. 147 explained · 119th Congress · Pending in Congress
FinCEN Oversight and Accountability Act of 2025
Cosponsors: none · per Congress.gov, 2026-10-12
Introduced: 2025-01-03
Latest action (2025-01-03): Referred to the House Committee on Financial Services.
What H.R. 147 does, in plain terms
FinCEN Oversight and Accountability Act of 2025 This bill requires the Department of the Treasury to keep specified congressional committees informed of the activity of the Financial Crimes Enforcement Network (FinCEN), particularly regarding unlawful activity and any resulting corrective action. Further, Treasury must disclose to Congress and to the public (with some exclusions) all controlling documents delegating authority to or providing direction to FinCEN. Such disclosure includes any controlling documents in force upon enactment, any controlling documents issued thereafter, and any changes to controlling documents. The bill extends for an additional five years the time period during which Treasury must testify before Congress regarding FinCEN’s anti-money laundering programs. FinCEN must also hold an annual small business working group to provide guidance on beneficial ownership reporting obligations.
Official summary by the Congressional Research Service, via Congress.gov.
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