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Banking Transparency for Sanctioned Persons Act of 2018
4/7/2025, 3:21 PM
Summary of Bill HR 6751
Bill 115 hr 6751, also known as the Banking Transparency for Sanctioned Persons Act of 2018, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to increase transparency in the banking system when it comes to individuals who have been sanctioned by the US government.
The bill requires financial institutions to report any transactions or accounts that are linked to individuals who have been sanctioned by the US government. This information would then be shared with relevant government agencies to ensure that these individuals are not able to access funds through the banking system.
Additionally, the bill includes provisions for penalties for financial institutions that fail to comply with these reporting requirements. This is meant to incentivize banks to take the necessary steps to prevent sanctioned individuals from using the banking system for illicit activities. Overall, the Banking Transparency for Sanctioned Persons Act of 2018 aims to strengthen the US government's ability to enforce sanctions and prevent individuals who have been sanctioned from accessing funds through the banking system.
The bill requires financial institutions to report any transactions or accounts that are linked to individuals who have been sanctioned by the US government. This information would then be shared with relevant government agencies to ensure that these individuals are not able to access funds through the banking system.
Additionally, the bill includes provisions for penalties for financial institutions that fail to comply with these reporting requirements. This is meant to incentivize banks to take the necessary steps to prevent sanctioned individuals from using the banking system for illicit activities. Overall, the Banking Transparency for Sanctioned Persons Act of 2018 aims to strengthen the US government's ability to enforce sanctions and prevent individuals who have been sanctioned from accessing funds through the banking system.
Current Status of Bill HR 6751
Bill HR 6751 is currently in the status of Bill Introduced since September 7, 2018. Bill HR 6751 was introduced during Congress 115 and was introduced to the House on September 7, 2018. Bill HR 6751'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 September 27, 2018
Bipartisan Support of Bill HR 6751
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 6751
Primary Policy Focus
Finance and Financial SectorComments
Sponsors and Cosponsors of HR 6751
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