Protecting American Taxpayers from Wasteful Spending Act

Bill 119 HR 2597, also known as the Protecting America's Bank Account Act, aims to codify Executive Order 14249, which was issued to safeguard against fraud, waste, and abuse in the financial sector. The bill seeks to strengthen protections for American consumers and businesses by implementing measures to prevent unauthorized access to bank accounts and financial information.

Specifically, the legislation includes provisions to enhance cybersecurity measures, improve oversight of financial institutions, and increase penalties for those found guilty of committing financial crimes. Additionally, the bill aims to promote transparency and accountability within the banking industry to ensure that funds are being used responsibly and ethically.

Overall, Bill 119 HR 2597 is designed to protect the financial interests of Americans and strengthen the integrity of the banking system. By codifying Executive Order 14249, this legislation aims to prevent fraud, waste, and abuse in the financial sector, ultimately benefiting consumers and businesses across the country.