Mon October 28th, 2019
Fees (removed from estimate); Disc est comes from 10/16/19 score; this version eliminates sections on Training for examiners on AML/CFT and Prohibition on tax deductions for attorney’s fees related to Bank Secrecy Act settlements and court costs
Sponsor: Rep. Emanuel Cleaver — D — MO
Requires the Financial Crimes Enforcement Network (FinCEN) to take steps to improve its communications with financial institutions and coordinate with federal financial regulators; requires training for federal financial examiners in enforcing laws aimed at money laundering and the financing of terrorism; requires federal financial regulators to establish innovation labs; reauthorizes the International Affairs Technical Assistance office in the Department of the Treasury; establishes a new FinCEN whistleblower program for the Bank Secrecy Act (BSA); prohibits violators of the BSA from deducting attorney’s fees and court costs on their tax returns; and directs the Department of the Treasury to issue several rules that would impose mandates on private entities.
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