FinCEN Oversight and Accountability Act of 2025

House Bill

H.R. 147

119th Congress

FinCEN Oversight and Accountability Act of 2025

In Committee

Introduced:Jan 3, 2025

Primary Sponsor

Donald W. Norcross

Representative

Democratic

NJ-1

Cosponsors

0

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill enhances congressional oversight of the Financial Crimes Enforcement Network. Treasury must keep Congress informed of FinCEN activity, particularly regarding unlawful activity and corrective actions. Treasury must disclose to Congress and the public all documents delegating authority to FinCEN. The bill extends for five years the requirement for Treasury to testify before Congress on anti-money laundering programs. FinCEN must hold annual small business working groups on beneficial ownership reporting requirements.

Latest Action

Referred to the House Committee on Financial Services.

AI Summary

Plain-English explanation of this bill

This bill enhances congressional oversight of the Financial Crimes Enforcement Network. Treasury must keep Congress informed of FinCEN activity, particularly regarding unlawful activity and corrective actions. Treasury must disclose to Congress and the public all documents delegating authority to FinCEN. The bill extends for five years the requirement for Treasury to testify before Congress on anti-money laundering programs. FinCEN must hold annual small business working groups on beneficial ownership reporting requirements.

Last updated: 1/4/2026

Official Summary

Congressional Research Service summary

FinCEN Oversight and Accountability Act of 2025This bill requires the Department of the Treasury to keep specified congressional committees informed of the activity of the Financial Crimes Enforcement Network (FinCEN), particularly regarding unlawful activity and any resulting corrective action.Further, Treasury must disclose to Congress and to the public (with some exclusions) all controlling documents delegating authority to or providing direction to FinCEN. Such disclosure includes any controlling documents in force upon enactment, any controlling documents issued thereafter, and any changes to controlling documents.The bill extends for an additional five years the time period during which Treasury must testify before Congress regarding FinCEN’s anti-money laundering programs.FinCEN must also hold an annual small business working group to provide guidance on beneficial ownership reporting obligations.

Key Points

Main provisions of the bill

Requires Treasury to inform Congress of FinCEN activities
Mandates disclosure of FinCEN authority and direction documents
Extends anti-money laundering testimony requirement by 5 years
Annual small business working group on beneficial ownership
Increases transparency of FinCEN operations

How This Impacts Americans

Potential effects on citizens and communities

For Congress: Enhanced oversight of financial crime enforcement. For Treasury: New reporting and disclosure requirements. For small businesses: Guidance on beneficial ownership reporting. For FinCEN: Increased public accountability and transparency. For anti-money laundering efforts: Continued congressional attention.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Related Subjects

Congressional oversight

Congressional-executive branch relations

Fraud offenses and financial crimes

Government ethics and transparency, public corruption

Government information and archives

Government studies and investigations

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

147, 119th Congress (2025). "FinCEN Oversight and Accountability Act of 2025". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-147