Section 1 Short title
This Act may be cited as the “FinCEN Accountability Act of 2023”.
FinCEN Accountability Act of 2023
A BILL
To provide for further congressional oversight of the Financial Crimes Enforcement Network (FinCEN), and for other purposes.
Sec. 2 Transparency with controlling documents
Definition of controlling document— As used in this section, the term “controlling document” refers to any record (as defined in section 3301 of title 44, United States Code) issued by or under the authority of the Secretary, Deputy Secretary, Under Secretary for Enforcement, or any other officer or employee of the Department of the Treasury, that delegates authority to the Financial Crimes Enforcement Network or its Director, or contains direction binding upon the Financial Crimes Enforcement Network or its Director, in the implementation of section 310 of title 31, United States Code, or the Bank Secrecy Act, including delegations, prescriptions, regulations, protocols, priorities, policies, standards, guidelines, and requirements issued in accordance with subsections (b)(2)(C), (b)(2)(E), (b)(2)(I), (b)(2)(J), (b)(2)(O), (c), and (i)(2)(C)(ii) of section 310 of such title 31 and subsections (b)(1), (b)(2), (b)(4), (c)(2)(A), (c)(2)(C), (c)(3), (c)(5), (d)(3), and (h)(3)(C)(i)(I)(bb) of section 5336 of such title 31.
Disclosure to Congress— The Secretary of the Treasury shall promptly provide to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate—
controlling documents in force as of the enactment of this Act;
any controlling documents issued thereafter; and
any changes to controlling documents described in paragraphs (1) and (2) made thereafter, including any revocations thereof.
Disclosure to the public— The Secretary of the Treasury shall make available promptly to the public the controlling documents and changes that the Secretary is required to provide to the committees listed in subsection (b), excluding such reasonably segregable portions of controlling documents or changes as would fall within an exemption in section 552(b) of title 5, United States Code.
Sec. 3 Transparency in rulemaking and secretarial exceptions
Reservation to the Secretary of authority To make exceptions— No officer or employee of the Department of the Treasury, except the Secretary of the Treasury or the person performing the duties of the Secretary of the Treasury when that office is vacant or the Secretary is unable to perform the duties of that office, shall, with respect to a proposed or final rule relating to activities of the Financial Crimes Enforcement Network, including implementation of the Bank Secrecy Act—
make findings of good cause under subsection (b) or (d) of section 553 of title 5, United States Code;
exercise authority to certify, delay, or waive under section 605 or 608 of title 5, United States Code; or
make findings of good cause under section 808(2) of title 5, United States Code.
Covered agency status for regulatory flexibility— Section 310 of title 31, United States Code, is amended by adding at the end thereof the following new subsection:
“(m) The Financial Crimes Enforcement Network shall be a “covered agency” for purposes of section 609(d) of title 5.”
Sec. 4 Testimony by the Director of FinCEN
Section 5336(c)(11)(A) of title 31, United States Code, is amended by striking “5 years” and inserting “10 years”.
Sec. 5 Bank Secrecy Act defined
In this Act, the term “Bank Secrecy Act” means—
section 21 of the Federal Deposit Insurance Act (12 U.S.C. 1829b);
chapter 2 of title I of Public Law 91–508 (12 U.S.C. 1951 et seq.); and
subchapter II of chapter 53 of title 31, United States Code.