H.R. 7734House117th Congress (2021-2023)Passed House

Timely Delivery of Bank Secrecy Act Reports Act

Introduced May 12, 2022

AI-Generated Summary

Updated February 8, 2026 at 11:23 AM UTC

The Timely Delivery of Bank Secrecy Act Reports Act amends the law to require faster delivery of Bank Secrecy Act reports to Congress. It obligates the Treasury Secretary to provide any requested report to the appropriate congressional committees or subcommittees within 30 days of the request, and it requires financial institutions to turn over reports and underlying information when subpoenaed, by the date specified in the subpoena. The bill affects the Treasury Department, financial institutions, and congressional committees with jurisdiction over BSA reporting.

Key Provisions

  • The Treasury Secretary must deliver any Bank Secrecy Act report requested by the relevant congressional committee or subcommittee no later than 30 days after the request.
  • Financial institutions must provide the requested Bank Secrecy Act report and any supporting information when served with a congressional subpoena, by the return date set in the subpoena.

Legislative Activity

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14 earlier actions
SenateIntro Referral Latest Action

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

July 27, 2022

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HouseIntro Referral

Introduced in House

May 12, 2022

HouseIntro Referral

Referred to the House Committee on Financial Services.

May 12, 2022

HouseCommittee

Committee Consideration and Mark-up Session Held.

May 17, 2022

HouseCommittee

Ordered to be Reported in the Nature of a Substitute by Voice Vote.

May 17, 2022

HouseCommittee

Reported (Amended) by the Committee on Financial Services. H. Rept. 117-425.

July 20, 2022

HouseCalendars

Placed on the Union Calendar, Calendar No. 331.

July 20, 2022

HouseFloor

Ms. Waters moved to suspend the rules and pass the bill, as amended.

July 26, 2022 • 5:13 PM

HouseFloor

Considered under suspension of the rules. (consideration: CR H7126-7127)

July 26, 2022 • 5:14 PM

HouseFloor

DEBATE - The House proceeded with forty minutes of debate on H.R. 7734.

July 26, 2022 • 5:14 PM

HouseFloor

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.

July 26, 2022 • 5:23 PM

HouseFloor

Considered as unfinished business. (consideration: CR H7146)

July 26, 2022 • 8:43 PM

HouseFloor

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): 349 - 70 (Roll no. 393).(text: CR H7126)

July 26, 2022 • 8:53 PM

HouseFloor

On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 349 - 70 (Roll no. 393). (text: CR H7126)

July 26, 2022 • 8:53 PM

HouseFloor

Motion to reconsider laid on the table Agreed to without objection.

July 26, 2022 • 8:53 PM

SenateIntro Referral

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

July 27, 2022

Floor Debate

13 members

What members said about H.R. 7734 on the floor

7 Republicans6 Democrats
Joe Neguse
Rep. Joe NeguseD-CO-2 · Jul 26, 2022

Mr. Speaker, by direction of the Committee on Rules, I call up House Resolution 1254 and ask for its immediate consideration. Mr. Speaker, for the purpose of debate only, I yield the customary 30…

Michael C. Burgess
Rep. Michael C. BurgessR-TX-26 · Jul 26, 2022

Mr. Speaker, I thank Mr. Neguse for yielding me the customary 30 minutes, and I yield myself such time as I may consume. Mr. Speaker, today's rule provides for consideration of three bills, three…

Maxine Waters
Rep. Maxine WatersD-CA-43 · Jul 26, 2022

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 7734) to amend title 31, United States Code, to require the timely production of reports to Congress under the Bank Secrecy Act, and…

John Katko
Rep. John KatkoR-NY-24 · Jul 26, 2022

Mr. Speaker, I rise today to oppose the previous question so we can immediately consider H. Res. 1255 led by my good friend and colleague Michael Guest, the vice ranking member of the Committee on…

Daniel T. Kildee
Rep. Daniel T. KildeeD-MI-5 · Jul 26, 2022

Mr. Speaker, I thank the gentleman from Colorado (Mr. Neguse), my friend, for yielding to me to speak in favor of this rule, which includes consideration of legislation that I and others drafted, the…

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Michael Guest
Rep. Michael GuestR-MS-3 · Jul 26, 2022

Mr. Speaker, I rise to oppose the previous question so that we may immediately consider H. Res. 1255. This resolution expresses support for the United States Border Patrol agents and condemns the…

August Pfluger
Rep. August PflugerR-TX-11 · Jul 26, 2022

Mr. Speaker, I thank the ranking member for yielding. I rise today to oppose the previous question so we can immediately consider H.R. 1255 and bring forward my good friend Mr. Guest's resolution…

Ed Perlmutter
Rep. Ed PerlmutterD-CO-7 · Jul 26, 2022

Mr. Speaker, I thank my friend from Colorado for extending me 3 minutes. Mr. Speaker, I rise today in support of the previous question and the rule, especially the section regarding the Wildfire…

Jamaal Bowman
Rep. Jamaal BowmanD-NY-16 · Jul 26, 2022

Madam Speaker, had I been present, I would have voted yea on rollcall No. 386. Members Recorded Pursuant to House Resolution 8, 117th Congress Amodei (Balderson) Babin (Sessions) Blumenauer (Beyer)…

Betty McCollum
Rep. Betty McCollumD-MN-4 · Jul 26, 2022

Madam Speaker, had I been present, I would have voted ``yea'' on rollcall no. 393. Members Recorded Pursuant to House Resolution 8, 117th Congress Babin (Sessions) Blumenauer (Beyer) Brown (MD)…

John W. Rose
Rep. John W. RoseR-TN-6 · Jul 26, 2022

Mr. Speaker, I thank the gentlewoman for yielding time this evening. Mr. Speaker, I rise in opposition to H.R. 7734, which would require the Treasury Secretary, upon the request of Congress, to…

Ann Wagner
Rep. Ann WagnerR-MO-2 · Jul 26, 2022

Mr. Speaker, I yield myself such time as I may consume. I rise in support of H.R. 7734, which increases transparency and restores a strong record of cooperation with the Treasury Department. H.R.…

Andrew S. Clyde
Rep. Andrew S. ClydeR-GA-9 · Jul 26, 2022

Mr. Speaker, on that I demand the yeas and nays.

Bill Text

4 versions available

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Latest
Referred in SenateIssued July 27, 2022

IIB

117th CONGRESS

2d Session

H. R. 7734

IN THE SENATE OF THE UNITED STATES

July 27, 2022

Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs

AN ACT

To amend title 31, United States Code, to require the timely production of reports to Congress under the Bank Secrecy Act, and for other purposes.


1.

Short title

This Act may be cited as the Timely Delivery of Bank Secrecy Act Reports Act.

2.

Timely production of Bank Secrecy Act reports to Congress

Section 5319 of title 31, United States Code, is amended—

(1)

by striking The Secretary of the Treasury and inserting the following:

(a)

In general

The Secretary of the Treasury

; and

(2)

by adding at the end the following:

(b)

Timely production of reports to Congress

(1)

Production by the Secretary

Upon the request of the congressional committees or subcommittees of appropriate jurisdiction for any report filed under this subchapter, the Secretary of the Treasury shall deliver the requested report to the committee or subcommittee not later than 30 days after such request is made.

(2)

Production by a financial institution pursuant to a subpoena

Upon subpoena by the congressional committees or subcommittees of appropriate jurisdiction, a financial institution shall deliver a report filed under this subchapter by the financial institution, and any information on which such report is based, to the committee or subcommittee not later than the return date specified for such report in the subpoena.

.

Passed the House of Representatives July 26, 2022.

Cheryl L. Johnson,

Clerk.