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Money Mule Awareness Act

2/8/2022, 11:16 PM

Congressional Summary of HR 7422

Money Mule Awareness Act

This bill directs financial regulatory agencies to encourage consumer education at depository institutions regarding the risk of transferring illegally acquired money on behalf of another person.

Read the Full Bill

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Current Status of Bill HR 7422

Bill HR 7422 is currently in the status of Bill Introduced since June 30, 2020. Bill HR 7422 was introduced during Congress 116 and was introduced to the House on June 30, 2020.  Bill HR 7422's most recent activity was Referred to the House Committee on Financial Services. as of June 30, 2020

Bipartisan Support of Bill HR 7422

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 7422

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Consumer affairs
- Criminal investigation, prosecution, interrogation
- Fraud offenses and financial crimes

Alternate Title(s) of Bill HR 7422

Money Mule Awareness Act
To require the Federal financial regulators to issue guidance to encourage depository institutions to establish programs to educate customers at risk of unwittingly becoming money mules.
Money Mule Awareness Act

Comments

Sponsors and Cosponsors of HR 7422

Tulsi Gabbard
Tulsi Gabbard
HawaiiDemocrat

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