HR 6243
Block Iranian Access to U.S. Banks Act of 2020
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Block Iranian Access to U.S. Banks Act of 2020, aims to prevent U.S. financial institutions from providing financial services to the Government of Iran. It prohibits the Treasury Secretary from issuing licenses authorizing such services, with limited exceptions for humanitarian aid, medicines, or agricultural commodities. The President can issue waivers for these exceptions, but must report to Congress. The bill is set to expire after five years, or sooner if certain conditions regarding Iran’s money laundering concerns and support for terrorism are met.
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