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US. GOVERNMENT
INFORMATION
GP
119TH CONGRESS REPORT
1st Session HOUSE OF REPRESENTATIVES 119-24
FINANCIAL PRIVACY ACT OF 2025
MARCH 21, 2025.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. HILL of Arkansas, from the Committee on Financial Services,
submitted the following
REPORT
[To accompany H.R. 1602]
The Committee on Financial Services, to whom was referred the
bill (H.R. 1602) to require the Secretary of the Treasury to provide
for greater transparency and protections with regard to Bank Se-
crecy Act reports, and for other purposes, having considered the
same, reports favorably thereon with an amendment and rec-
ommends that the bill as amended do pass.
CONTENTS
Page
Purpose and Sum m ary ............................................................................................ 3
Background and Need for Legislation .................................................................... 3
Com m ittee Consideration ........................................................................................ 4
R elated H earings ..................................................................................................... 4
C om m ittee V otes ..................................................................................................... 5
Com m ittee Oversight Findings ............................................................................... 8
Perform ance Goals and Objectives ......................................................................... 8
Com m ittee Cost Estim ate ....................................................................................... 8
New Budget Authority and CBO Cost Estimate ................................................... 8
Unfunded M andates Statem ent .............................................................................. 8
E arm ark Statem ent ................................................................................................. 8
Federal Advisory Committee Act Statement ......................................................... 9
Applicability to the Legislative Branch ................................................................. 9
Duplication of Federal Program s ............................................................................ 9
Section-by-Section Analysis of the Legislation ...................................................... 9
Changes in Existing Law Made by the Bill, as Reported ................. 10
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the Financial Privacy Act of 2025.
SEC. 2. FINDINGS.
The Congress finds the following:
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