H.R. 1602 explained · 119th Congress · Pending in Congress
Financial Privacy Act of 2025
Cosponsors: 1 (1 D, 0 R) · per Congress.gov, 2026-10-12
Introduced: 2025-02-26
Latest action (2025-03-21): Placed on the Union Calendar, Calendar No. 14.
What H.R. 1602 does, in plain terms
Financial Privacy Act of 2025 This bill requires the Department of the Treasury to annually report to Congress details of reports made to the Financial Crimes Enforcement Network (FinCEN). FinCEN collects reports on suspicious financial transactions and the beneficial ownership of companies in order to detect financial crimes, including money laundering. Under the bill, FinCEN must report on the number and types of reports and whether they are retained by FinCEN, any guidance regarding outside agency access to these reports, agency requests for these reports, and any denials of access to these reports. Treasury must annually review access guidance and revise as appropriate to protect the legal rights of U.S persons, among other objectives.
Official summary by the Congressional Research Service, via Congress.gov.
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