HR1450Passed House
OFAC Licensure for Investigators Act
Introduced
In Committee
Passed One Chamber
4
Passed Both5
Signed into Law119th
Congress
2025-02-21
Introduced
1
Cosponsors
HR
ⓘType
Sponsor
Joyce Beatty
Democrat · OH · Representative
Votes with party: 98.4% (634 recorded votes)
Full profile: /officials/B001281
Source: Congress.gov · FEC
Cosponsors (1)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
1 cosponsor on record at Congress.gov. The named list is syncing into Govwatch and will appear here shortly — view on Congress.gov in the meantime.
Latest Action
The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2025-07-22
Source: Congress.gov
Committee Activity
Currently in
- Senate Committee on Banking, Housing, and Urban AffairsReferred To · 2025-07-22
- House Committee on Financial ServicesReported By · 2025-03-27
- House Committee on Foreign AffairsDischarged From · 2025-03-27
Previously
- House Committee on Financial ServicesMarkup By · 2025-03-05
- House Committee on Foreign AffairsReferred To · 2025-02-21
- House Committee on Financial ServicesReferred To · 2025-02-21
Plain-English Summary
OFAC Licensure for Investigators Act This bill requires the Office of Foreign Assets Control (OFAC) to establish a pilot program to license eligible private sector firms to conduct nominal financial transactions as part of the firm's sanctions-related investigations. A firm that receives a license must submit monthly reports to OFAC on activities conducted under the license. (OFAC, within the Department of the Treasury, is one of the primary agencies responsible for enforcing economic sanctions. OFAC requires firms to take various actions, such as ensuring that they are not engaging in transactions with entities subject to U.S. sanctions. A firm may also provide voluntary self-disclosures to OFAC with information from a firm's investigation of suspicious activities.)
Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.
Subjects
International Affairs
Full bill text is not yet cached locally.
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