HR 5485
Financial Privacy Act of 2023
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Bill overview
The Financial Privacy Act of 2023 requires the Treasury Department to provide greater transparency regarding the Bank Secrecy Act (BSA) reports collected by FinCEN. Specifically, it mandates that the Secretary of the Treasury submit annual reports to Congress detailing the volume and types of reports filed, how they are retained, and any access requests made by government agencies. The bill also directs a review and potential revision of protocols governing agency access to these reports to safeguard the privacy rights of U.S. citizens.
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