Taylor Force Martyr Payment Prevention Act of 2023

House Bill

H.R. 1408

119th Congress

Taylor Force Martyr Payment Prevention Act of 2023

In Committee

Introduced:Jun 23, 2025

Primary Sponsor

Darrell Issa

Representative

Republican

CA-48

Cosponsors

20

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill would require the U.S. Department of the Treasury to consider whether a foreign financial institution is providing services to terrorist organizations like Hamas when determining if that institution should face special measures, such as restrictions on accessing the U.S. financial system. The goal is to prevent funds from being used to support terrorist activities against American and Israeli citizens.

Latest Action

Referred to the House Committee on Financial Services.

SponsorDarrell Issa (R-CA)

Introduced6/23/2025

StatusReferred to the House Committee on Financial Services.

ChamberHouse

Data from Congress.gov

See this page through your district lens

Enter ZIP to personalize representatives and vote context.

Stay on top of this issue

Subscribe for weekly bill and representative updates.

Vote Prediction

Taylor Force Martyr Payment Prevention Act of 2023

This bill would require the U.S. Department of the Treasury to consider whether a foreign financial institution is providing services to terrorist organizations like Hamas when determining if that institution should face special measures, such as restrictions

Community Breakdown

Pass

0%

Fail

0%

0 predictions

This bill would require the U.S. Department of the Treasury to consider whether a foreign financial institution is providing services to terrorist organizations like Hamas when determining if that institution should face special measures, such as restrictions on accessing the U.S. financial system. The goal is to prevent funds from being used to support terrorist activities against American and Israeli citizens.

Bill Number: 1408
Sponsor: Darrell Issa (R-CA)
Introduced: 6/23/2025
Status: Referred to the House Committee on Financial Services.
Policy Area: Finance and Financial Sector

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: Taylor Force Martyr Payment Prevention Act of 2023
Bill Number: 1408
Sponsor: Darrell Issa (R-CA)
Status: Referred to the House Committee on Financial Services.
Introduced: 6/23/2025
Summary: This bill would require the U.S. Department of the Treasury to consider whether a foreign financial institution is providing services to terrorist organizations like Hamas when determining if that institution should face special measures, such as restrictions on accessing the U.S. financial system.

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill would require the U.S. Department of the Treasury to consider whether a foreign financial institution is providing services to terrorist organizations like Hamas when determining if that institution should face special measures, such as restrictions on accessing the U.S. financial system. The goal is to prevent funds from being used to support terrorist activities against American and Israeli citizens.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Taylor Force Martyr Payment Prevention Act of 2023 This bill expands the institutional factors the Department of the Treasury must consider when making a finding that a foreign financial institution is of primary money laundering concern and is therefore subject to special measures, including the prohibition of opening or maintaining correspondent accounts in U.S financial institutions. Specifically, Treasury must consider (1) the extent to which an institution knowingly provides financial services to Hamas, or to an agent of Hamas; and (2) the extent to which an institution, transaction, or type of account is used to facilitate or promote payments for certain acts of terrorism against U.S. and Israeli citizens.

Key Points

Main provisions of the bill

Expands the factors the Treasury Department must consider when designating a foreign financial institution as being of primary money laundering concern.
Specifically requires Treasury to look at whether an institution is providing financial services to Hamas or its agents.
Also requires Treasury to consider if an account or transaction is being used to facilitate or promote payments related to terrorism against U.S. and Israeli citizens.

How This Impacts Americans

Potential effects on citizens and communities

If passed, this bill would impact foreign financial institutions that have ties to terrorist organizations. They could face restrictions on their ability to access the U.S. financial system, making it harder for them to conduct transactions. This could disrupt terrorist financing and protect American and Israeli citizens from attacks.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

1408, 119th Congress (2025). "Taylor Force Martyr Payment Prevention Act of 2023". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-1408