United States 113th Congress Status: Died 1 D cosponsors

HR 3700 — Building Community Financial Institutions' Capacity to Combat Money Laundering Act

Last action — Referred to the House Committee on Financial Services.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 113th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Building Community Financial Institutions' Capacity to Combat Money Laundering Act - Establishes the BSA Compliance Fund. Requires deposit into the Fund of: (1) 25% of all civil money penalties imposed upon domestic financial institutions for violations related to mandatory reports and recordkeeping on monetary instruments transactions, and (2) 25% of any civil fine paid by a domestic financial institution for violations of other federal law with respect to actions for which a civil money penalty is also imposed for prohibited monetary transactions. Instructs the Secretary of the Treasury to: (1) use the Fund to make grants to community financial institutions with under $10 billion in assets to improve their compliance with statutory requirements governing reports and recordkeeping on monetary instruments transactions, and (2) give grant priority to institutions located in counties that have 20% or more of residents living below the federal poverty line.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 3700 on the official United States source →

Action History

  1. Referred to the House Committee on Financial Services.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance
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Frequently asked questions

What does HR 3700 do?
Building Community Financial Institutions' Capacity to Combat Money Laundering Act - Establishes the BSA Compliance Fund. Requires deposit into the Fund of: (1) 25% of all civil money penalties imposed upon domestic financial institutions for violations related to mandatory reports and recordkeeping on monetary instruments transactions, and (2) 25% of any civil fine paid by a domestic financial institution for violations of other federal law with respect to actions for which a civil money penalty is also imposed for prohibited monetary transactions. Instructs the Secretary of the Treasury to: (1) use the Fund to make grants to community financial institutions with under $10 billion in assets to improve their compliance with statutory requirements governing reports and recordkeeping on monetary instruments transactions, and (2) give grant priority to institutions located in counties that have 20% or more of residents living below the federal poverty line.
Who sponsors HR 3700?
HR 3700 is sponsored by Ruben Hinojosa (D).
What is the current status of HR 3700?
This bill died with 113th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 3700?
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Last checked for changes about 11 hours ago · updated continuously

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