3.0.0 3317 2023-01-11T13:23:57Z 2023-01-11T13:23:57Z House H HR 2013-10-23 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. WATERS:H.R. 3317.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3 (the Commerce Clause).[Page H6769]]]> hsju00 Judiciary Committee House Standing hsju08 Crime and Federal Government Surveillance Subcommittee Referred to 2014-01-09T18:15:38Z Referred to 2013-10-23T14:03:40Z hsba00 Financial Services Committee House Standing Referred to 2013-10-23T14:03:35Z 2014-01-09 hsju08 Crime and Federal Government Surveillance Subcommittee 1 House committee actions Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations. Committee 2013-10-23 Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsju00 Judiciary Committee 2013-10-23 Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2013-10-23 Introduced in House IntroReferral Intro-H 9 Library of Congress 2013-10-23 Introduced in House IntroReferral 1000 9 Library of Congress W000187 Rep. Waters, Maxine [D-CA-43] MAXINE WATERS D CA 43 N M000087 Rep. Maloney, Carolyn B. [D-NY-12] CAROLYN MALONEY D NY B. 12 2013-10-23 True G000553 Rep. Green, Al [D-TX-9] Al Green D TX 9 2013-10-23 True C001049 Rep. Clay, Wm. Lacy [D-MO-1] WM. CLAY D MO LACY 1 2013-10-23 True C001037 Rep. Capuano, Michael E. [D-MA-7] MICHAEL CAPUANO D MA E. 7 2013-10-23 True M001137 Rep. Meeks, Gregory W. [D-NY-5] GREGORY MEEKS D NY W. 5 2013-10-23 True M001160 Rep. Moore, Gwen [D-WI-4] Gwen Moore D WI 4 2013-10-23 True L000562 Rep. Lynch, Stephen F. [D-MA-8] Stephen Lynch D MA F. 8 2013-10-23 True R000053 Rep. Rangel, Charles B. [D-NY-13] CHARLES RANGEL D NY B. 13 2014-06-18 False Crime and Law Enforcement Administrative law and regulatory procedures Bank accounts, deposits, capital Banking and financial institutions regulation Business records Civil actions and liability Commodity Futures Trading Commission Congressional oversight Corporate finance and management Criminal justice information and records Criminal procedure and sentencing Department of the Treasury Drug trafficking and controlled substances Employment discrimination and employee rights Evidence and witnesses Federal Deposit Insurance Corporation (FDIC) Federal Reserve System Foreign and international banking Fraud offenses and financial crimes Government studies and investigations International organizations and cooperation Securities and Exchange Commission (SEC) Terrorism Wages and earnings Crime and Law Enforcement 00 2013-10-23 Introduced in House 2013-12-18T18:57:43Z Holding Individuals Accountable and Deterring Money Laundering Act - Amends provisions of federal law known as the Bank Secrecy Act of 1970 relating to money laundering violations to: (1) increase civil penalties for willful violations of anti-money laundering laws; (2) increase the civil penalty for negligent violations of such laws and impose a penalty on partners, directors, officers, or employees of a financial institution for such violations; and (3) impose a 20-year maximum prison term for individuals who facilitate evasion of an anti-money laundering program or control. Directs the Comptroller General (GAO) to study contrasting mandatory minimum sentencing laws and guidelines for narcotics-related offenses and Department of Justice (DOJ) prosecutorial discretion in determining penalties for violations of anti-money laundering laws. 

Authorizes a court, in granting an injunction directed at money laundering activities, to issue a conditional or permanent ban on any individual who has violated money laundering laws from acting as an officer or director of a financial institution.

Grants independent legal authority to the Financial Crimes Enforcement Network (FinCEN) of the Department of the Treasury to bring legal action to enforce anti-money laundering laws.

Requires the issuance of regulations by appropriate federal banking agencies, the Securities and Exchange Commission (SEC), the Commodities Futures Trading Commission (CFTC), and FinCEN prohibiting financial institutions that are subject to an anti-money laundering program requirement from providing executive compensation based on any criteria that could undermine compliance by any individual with anti-money laundering requirements. Imposes personal liability on officers, directors, employees, or affiliated parties of a financial institution for fines relating to money laundering violations.

Requires the Secretary of the Treasury to issue regulations requiring each financial institution that is subject to an anti-money laundering program to establish written policies, procedures, and risk management standards for ensuring compliance with anti-money laundering requirements. Imposes civil liability on officers or employees of a financial institutions who knew or should have known about money laundering violations but who failed to take meaningful steps to stop such violations. 

Requires each  appropriate federal banking agency, the SEC, and the CFTC to report to FinCEN on each enforcement or supervisory action taken relating to an anti-money laundering violation.

Expands: (1) criteria for granting safe harbor protections to financial institutions that voluntarily disclose money laundering violations, and (2) the types of crimes that can be a predicate offense to money laundering to include all felony offenses.

Expands anti-discrimination protections and legal remedies for individuals who provide information about money laundering violations (whistle blowers).  Provides enhanced monetary incentives for such whistle blowers.

Directs the Secretary to work with foreign counterparts and financial organizations to promote stronger anti-money laundering frameworks and enforcement of anti-money laundering laws.  

Expresses the sense of Congress that DOJ should vigorously pursue criminal penalties against individuals who willfully violate anti-money laundering laws. Sets forth considerations for the Department of  the Treasury when identifying countries or jurisdictions as primary money laundering concerns under the USA Patriot Act.

]]> Holding Individuals Accountable and Deterring Money Laundering Act Display Title Holding Individuals Accountable and Deterring Money Laundering Act Official Title as Introduced To strengthen the Federal statutes designed to deter money laundering and terrorism financing, and for other purposes. Introduced in House IH Short Titles as Introduced Holding Individuals Accountable and Deterring Money Laundering Act Introduced in House 2013-10-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr3317ih/xml/BILLS-113hr3317ih.xml 2014-01-09 Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.