SEIZE Act

Senate Bill

S. 2642

119th Congress

SEIZE Act

In Committee

Introduced:Aug 1, 2025

Primary Sponsor

Ted Budd

Senator

Republican

NC

Cosponsors

0

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill would allow the President to treat any weapons or military equipment seized by the U.S. from Iran while being transported to the Houthi rebels in Yemen as American property. The President could then provide this seized material to other foreign partners.

Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

AI Summary

Plain-English explanation of this bill

This bill would allow the President to treat any weapons or military equipment seized by the U.S. from Iran while being transported to the Houthi rebels in Yemen as American property. The President could then provide this seized material to other foreign partners.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Financial Institutions Examination Fairness and Reform ActThis bill establishes new requirements for entities responsible for the federal examination of financial intuitions. Specifically, the bill sets deadlines for federal financial regulatory agencies to provide final examination reports and to perform exit interviews of a financial institution. In addition, the agency must list all materials relied upon in support of a material supervisory determination upon the request of the financial institution.The bill also establishes the Office of Independent Examination Review to adjudicate appeals and investigate complaints from financial institutions concerning examination reports. Under the bill, financial institutions have the right to obtain an independent review of a material supervisory determination contained in a final report of examination. The bill sets forth provisions regarding hearings and final decisions.The bill also requires the establishment of an independent internal agency appellate process at the Consumer Financial Protection Bureau (CFPB) for the review of supervisory determinations made at institutions supervised by the CFPB.

Key Points

Main provisions of the bill

Gives the President authority to treat seized Iranian weapons and military equipment as U.S. government property.
Allows the President to transfer the seized weapons and equipment to other foreign partners.
Requires the President to report to Congress on how this authority is used, including an inventory of the seized items.

How This Impacts Americans

Potential effects on citizens and communities

If this bill becomes law, it would impact U.S. foreign policy and military aid in the conflict in Yemen. The President could provide seized Iranian weapons to other countries supporting efforts against the Houthi rebels, potentially escalating the proxy war in Yemen. It could also increase U.S. involvement and engagement in the conflict.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

2642, 119th Congress (2025). "SEIZE Act". Source: Voter's Right Platform. https://votersright.org/bills/118-s-2642