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Foreign Affiliates Sharing Pilot Program Extension Act
1/4/2024, 6:26 PM
Congressional Summary of HR 5524
Foreign Affiliates Sharing Pilot Program Extension Act
This bill extends a pilot program that allows financial institutions to share suspicious activity reports with foreign affiliates for the purpose of combatting illicit financial activity. Currently, the program has not been implemented and is set to terminate January 1, 2024. The bill extends the termination date to three years after the Department of the Treasury issues rules for the pilot program.
Read the Full Bill
Current Status of Bill HR 5524
Bill HR 5524 is currently in the status of Bill Introduced since September 18, 2023. Bill HR 5524 was introduced during Congress 118 and was introduced to the House on September 18, 2023. Bill HR 5524's most recent activity was Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of December 13, 2023
Bipartisan Support of Bill HR 5524
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
1Democrat Cosponsors
1Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 5524
Primary Policy Focus
Finance and Financial SectorPotential Impact Areas
- Business records
- Foreign and international corporations
- Fraud offenses and financial crimes
- Public-private cooperation
Alternate Title(s) of Bill HR 5524
Foreign Affiliates Sharing Pilot Program Extension Act
Foreign Affiliates Sharing Pilot Program Extension Act
Foreign Affiliates Sharing Pilot Program Extension Act
Foreign Affiliates Sharing Pilot Program Extension Act
To amend the start date of the pilot program on sharing with foreign branches, subsidiaries and affiliates.
Comments
Sponsors and Cosponsors of HR 5524
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