SWIFT Act

Hozzl · 2025-01-04T11:17:50Z

Explore the details of House Bill 9234 SWIFT Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Social Welfare. Stay informed on legislative developments.

1/4/2025, 11:17 AM

Summary of Bill HR 9234

The SWIFT Act, also known as Bill 118 hr 9234, is a piece of legislation introduced in the US Congress aimed at addressing cybersecurity threats to the global financial messaging system known as the Society for Worldwide Interbank Financial Telecommunication (SWIFT). The bill seeks to enhance the security of SWIFT by requiring the Treasury Department to work with other federal agencies and international partners to develop a strategy to combat cyber threats to the system.

Specifically, the SWIFT Act mandates the establishment of a task force within the Treasury Department to coordinate efforts to protect SWIFT from cyber attacks. The task force will be responsible for conducting risk assessments, developing best practices for cybersecurity, and coordinating with other countries to share information and resources to combat cyber threats.

Additionally, the bill requires the Treasury Department to report to Congress on the progress of the task force and the implementation of the cybersecurity strategy. This reporting requirement is intended to ensure transparency and accountability in the efforts to protect SWIFT from cyber threats. Overall, the SWIFT Act is a bipartisan effort to strengthen the security of the global financial messaging system and protect against cyber attacks that could have serious implications for the stability of the international financial system.

Current Status of Bill HR 9234

Bill HR 9234 is currently in the status of Bill Introduced since July 30, 2024. Bill HR 9234 was introduced during Congress 118 and was introduced to the House on July 30, 2024. Bill HR 9234's most recent activity was Referred to the Subcommittee on Social Security. as of December 17, 2024

Bipartisan Support of Bill HR 9234

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 9234

Primary Policy Focus

Social Welfare

Alternate Title(s) of Bill HR 9234

To amend title II of the Social Security Act to increase survivors benefits for disabled widows, widowers, and surviving divorced spouses, and for other purposes.To amend title II of the Social Security Act to increase survivors benefits for disabled widows, widowers, and surviving divorced spouses, and for other purposes.

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