HR 1450
OFAC Licensure for Investigators Act
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.)
Bill status
- Status
- Passed House
- Sponsor
- Rep. Joyce Beatty [D-OH-3]
- Cosponsors
- 1
- Policy area
- International Affairs
- Introduced
- 2025-02-21
- Latest action
- 2025-07-22: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee referrals
- Banking, Housing, and Urban Affairs Committee: Senate · Referred To · 2025-07-22
- Foreign Affairs Committee: House · Discharged From · 2025-03-27
- Financial Services Committee: House · Reported By · 2025-03-27
- Financial Services Committee: House · Markup By · 2025-03-05
- Foreign Affairs Committee: House · Referred To · 2025-02-21
Recent actions
- 2025-07-22: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2025-07-21: Motion to reconsider laid on the table Agreed to without objection.
- 2025-07-21: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H3517)
- 2025-07-21: Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H3517)
- 2025-07-21: DEBATE - The House proceeded with forty minutes of debate on H.R. 1450.