3.0.0 3898 2023-01-11T13:38:31Z 2023-01-11T13:38:31Z House HR 2017-10-02 115 [Congressional Record Volume 163, Number 157 (Monday, October 2, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BARR:H.R. 3898.Congress has the power to enact this legislation pursuantto the following:(i.e. Article I, Section 8 of the Constitution of theUnited States)[Page H7671]]]> ssfr00 Foreign Relations Committee Senate Standing Referred to 2017-10-25T21:05:45Z hsba00 Financial Services Committee House Standing hsba20 Financial Institutions and Monetary Policy Subcommittee Hearings by 2017-09-13T21:44:53Z Reported by 2017-10-23T21:53:23Z Markup by 2017-10-12T21:34:53Z Referred to 2017-10-02T16:02:25Z H. Rept. 115-361 2017-10-25 ssfr00 Foreign Relations Committee Senate Received in the Senate and Read twice and referred to the Committee on Foreign Relations. IntroReferral 2017-10-24 17:54:55 The title of the measure was amended. Agreed to without objection. Floor H38800 2 House floor actions 2017-10-24 17:54:52 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2017-10-24 17:54:51 On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 2 (Roll no. 581). (text: CR H8099-8100) Floor H37300 2 House floor actions 581 https://clerk.house.gov/evs/2017/roll581.xml House 115 2017-10-24T21:54:51Z 1 2017-10-24 17:54:51 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 2 (Roll no. 581).(text: CR H8099-8100) Floor 8000 9 Library of Congress 581 https://clerk.house.gov/evs/2017/roll581.xml House 115 2017-10-24T21:54:51Z 1 2017-10-24 17:49:10 Considered as unfinished business. (consideration: CR H8129-8130) Floor H30000 2 House floor actions 2017-10-24 14:50:08 At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed. Floor H37220 2 House floor actions 2017-10-24 14:11:49 DEBATE - The House proceeded with forty minutes of debate on H.R. 3898. Floor H8D000 2 House floor actions 2017-10-24 14:11:47 Considered under suspension of the rules. (consideration: CR H8099-8104) Floor H30000 2 House floor actions 2017-10-24 14:11:31 Mr. Barr moved to suspend the rules and pass the bill, as amended. Floor H30300 2 House floor actions 2017-10-23 Placed on the Union Calendar, Calendar No. 265. Calendars H12410 2 House floor actions U00265 2017-10-23 Reported (Amended) by the Committee on Financial Services. H. Rept. 115-361. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2017-10-23 Reported (Amended) by the Committee on Financial Services. H. Rept. 115-361. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2017-10-12 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0. Committee 2017-10-12 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2017-10-11 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2017-10-02 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2017-10-02 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-10-02 Introduced in House IntroReferral 1000 9 Library of Congress 2017-09-13 hsba20 Financial Institutions and Monetary Policy Subcommittee 1 House committee actions Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Introduction and Referral. Committee B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 N H001074 Rep. Hollingsworth, Trey [R-IN-9] Trey Hollingsworth R IN 9 2017-10-02 True M001160 Rep. Moore, Gwen [D-WI-4] Gwen Moore D WI 4 2017-10-02 True P000593 Rep. Perlmutter, Ed [D-CO-7] Ed Perlmutter D CO 7 2017-10-02 True H001072 Rep. Hill, J. French [R-AR-2] J. Hill R AR French 2 2017-10-02 True V000130 Rep. Vargas, Juan [D-CA-51] Juan Vargas D CA 51 2017-10-02 True S001191 Rep. Sinema, Kyrsten [D-AZ-9] Kyrsten Sinema D AZ 9 2017-10-11 False W000816 Rep. Williams, Roger [R-TX-25] Roger Williams R TX 25 2017-10-11 False D000620 Rep. Delaney, John K. [D-MD-6] John Delaney D MD K. 6 2017-10-12 False M001189 Rep. Messer, Luke [R-IN-6] Luke Messer R IN 6 2017-10-12 False R000598 Rep. Rothfus, Keith J. [R-PA-12] Keith Rothfus R PA J. 12 2017-10-19 False G000583 Rep. Gottheimer, Josh [D-NJ-5] Josh Gottheimer D NJ 5 2017-10-19 False S000344 Rep. Sherman, Brad [D-CA-30] BRAD SHERMAN D CA 30 2017-10-19 False P000606 Rep. Pittenger, Robert [R-NC-9] Robert Pittenger R NC 9 2017-10-19 False M000087 Rep. Maloney, Carolyn B. [D-NY-12] CAROLYN MALONEY D NY B. 12 2017-10-19 False D000626 Rep. Davidson, Warren [R-OH-8] Warren Davidson R OH 8 2017-10-19 False H001064 Rep. Heck, Denny [D-WA-10] Denny Heck D WA 10 2017-10-19 False L000584 Rep. Love, Mia B. [R-UT-4] Mia Love R UT B. 4 2017-10-19 False P000611 Rep. Poliquin, Bruce [R-ME-2] Bruce Poliquin R ME 2 2017-10-23 False 2017-10-20T20:00:00Z H.R. 3898, Impeding North Korea’s Access to Finance Act of 2017 https://www.cbo.gov/publication/53227 As ordered reported by the House Committee on Financial Services on October 12, 2017 Finance and Financial Sector Administrative law and regulatory procedures Arms control and nonproliferation Asia Bank accounts, deposits, capital Civil actions and liability Competitiveness, trade promotion, trade deficits Congressional oversight Department of the Treasury Financial services and investments Foreign and international banking Foreign loans and debt Fraud offenses and financial crimes Government information and archives Government lending and loan guarantees International organizations and cooperation Multilateral development programs North Korea Nuclear weapons Sanctions Finance and Financial Sector 00 2017-10-02 Introduced in House 2017-10-31T14:47:57Z Impeding North Korea's Access to Finance Act of 2017

This bill directs the Department of the Treasury to prohibit a foreign financial institution that knowingly provides significant financial services to a "covered person" from opening or maintaining a correspondent account in the United States. "Covered person" includes any person doing business with North Korea, a North Korean person employed outside North Korea, and any person that knowingly employs a North Korean person outside North Korea. The bill establishes civil and criminal penalties for violations.

Treasury must prohibit a U.S.-based financial institution from knowingly engaging in a significant transaction with a covered person. The bill establishes civil penalties for violations.

The bill amends the Bretton Woods Agreements Act to direct the United States to oppose international financial assistance for a foreign government that does not implement these sanctions against North Korea. The President may waive this directive after specified steps are taken.

The bill amends the Export-Import Bank Act to prohibit the bank from providing support to a covered person.

Treasury must report on compliance with this bill among financial institutions, including any penalties imposed and efforts by Treasury to support compliance.

The bill amends the International Financial Institutions Act to require Treasury to: (1) instruct the U.S. Executive Director at the International Monetary Fund (IMF) to support the use of the IMF's administrative budget for technical assistance that strengthens the capacity of IMF members to prevent money laundering and the financing of terrorism, and (2) report on the effectiveness of such assistance.

The President may suspend or terminate sanctions under this bill if certain steps regarding nonproliferation of weapons of mass destruction are taken by North Korea.

]]> 17 2017-10-23 Reported to House with amendment(s) 2018-05-18T21:46:48Z Impeding North Korea's Access to Finance Act of 2017

(Sec. 3) This bill directs the Department of the Treasury to prohibit a foreign financial institution that knowingly provides significant financial services to a "covered person" from opening or maintaining a correspondent account in the United States. "Covered person" includes any person doing business with North Korea, any North Korean person employed outside North Korea (unless waived by Treasury), and any person that knowingly employs a North Korean person outside North Korea. The bill establishes civil and criminal penalties for violations.

Treasury must prohibit a U.S.-based financial institution from knowingly engaging in a significant transaction with a covered person. The bill establishes civil penalties for violations.

(Sec. 4) The bill amends the Bretton Woods Agreements Act to direct the United States to oppose international financial assistance for a foreign government that does not implement these sanctions against North Korea. The President may waive this directive after specified steps are taken.

The bill amends the Export-Import Bank Act to prohibit the bank from providing support to a covered person.

(Sec. 5) Treasury must report on compliance with this bill among financial institutions, including any penalties imposed and efforts by Treasury to support compliance.

The bill amends the International Financial Institutions Act to require Treasury to: (1) instruct the U.S. Executive Director at the International Monetary Fund (IMF) to support the use of the IMF's administrative budget for technical assistance that strengthens the capacity of IMF members to prevent money laundering and the financing of terrorism, and (2) report on the effectiveness of such assistance.

(Sec. 6) The President may suspend or terminate sanctions under this bill if certain steps regarding nonproliferation of weapons of mass destruction are taken by North Korea.

]]> 36 2017-10-24 Passed House amended 2018-05-21T14:45:47Z Otto Warmbier North Korea Nuclear Sanctions Act

(Sec. 3) This bill directs the Department of the Treasury to prohibit a foreign financial institution that knowingly provides significant financial services to a "covered person" from opening or maintaining a correspondent account in the United States. "Covered person" includes any person doing business with North Korea, any North Korean person employed outside North Korea (unless waived by Treasury), and any person that knowingly employs a North Korean person outside North Korea. The bill establishes civil and criminal penalties for violations.

Treasury must prohibit a U.S.-based financial institution from knowingly engaging in a significant transaction with a covered person. The bill establishes civil penalties for violations.

(Sec. 4) The bill amends the Bretton Woods Agreements Act to direct the United States to oppose international financial assistance for a foreign government that does not implement these sanctions against North Korea. The President may waive this directive after specified steps are taken.

The bill amends the Export-Import Bank Act to prohibit the bank from providing support to a covered person.

(Sec. 5) Treasury must report on compliance with this bill among financial institutions, including any penalties imposed and efforts by Treasury to support compliance.

The bill amends the International Financial Institutions Act to require Treasury to: (1) instruct the U.S. Executive Director at the International Monetary Fund (IMF) to support the use of the IMF's administrative budget for technical assistance that strengthens the capacity of IMF members to prevent money laundering and the financing of terrorism, and (2) report on the effectiveness of such assistance.

(Sec. 6) The President may suspend or terminate sanctions under this bill if certain steps regarding nonproliferation of weapons of mass destruction are taken by North Korea.

]]> Otto Warmbier North Korea Nuclear Sanctions Act Display Title Otto Warmbier North Korea Nuclear Sanctions Act Short Titles as Introduced Impeding North Korea's Access to Finance Act of 2017 Short Titles as Reported to House Impeding North Korea's Access to Finance Act of 2017 H House Short Titles as Passed House Otto Warmbier North Korea Nuclear Sanctions Act H House Official Title as Introduced To require the Secretary of the Treasury to place conditions on certain accounts at United States financial institutions with respect to North Korea, and for other purposes. Official Titles as Amended by House To impose secondary sanctions with respect to North Korea, strengthen international efforts to improve sanctions enforcement, and for other purposes. H House Referred in Senate 2017-10-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr3898rfs/xml/BILLS-115hr3898rfs.xml Engrossed in House 2017-10-24T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr3898eh/xml/BILLS-115hr3898eh.xml Reported in House 2017-10-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr3898rh/xml/BILLS-115hr3898rh.xml Introduced in House 2017-10-02T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr3898ih/xml/BILLS-115hr3898ih.xml 2017-10-25 Received in the Senate and Read twice and referred to the Committee on Foreign Relations. 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.