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US HR5132

US HR5132
Gun Violence Prevention Through Financial Intelligence Act


summary

Introduced
11/15/2019
In Committee
11/15/2019
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

To require the Financial Crimes Enforcement Network to issue an advisory about how homegrown violent extremists and other perpetrators of domestic terrorism procure firearms and firearm accessories, and for other purposes. This bill directs the Financial Crimes Enforcement Network (FinCEN) to collect information from financial institutions and to develop an advisory regarding the reporting of suspicious transactions related to gun violence. Specifically, FinCEN must gather information and develop an advisory related to (1) the procurement of firearms and firearm accessories for the purpose of carrying out lone-wolf acts of terror, and (2) how the U.S. firearms market facilitates gun violence.

AI Summary

This bill directs the Financial Crimes Enforcement Network (FinCEN) to collect information from financial institutions and develop an advisory on the reporting of suspicious transactions related to the procurement of firearms and firearm accessories by homegrown violent extremists and other perpetrators of domestic terrorism, as well as the exploitation of the U.S. firearms market to facilitate gun violence. The bill requires FinCEN to consult with the FBI, ATF, and firearm sellers before requesting information and to either issue the advisory or report on the information collected within 180 days after the initial one-year period. Additionally, the bill requires FinCEN to define certain key terms, such as "firearm accessory," "homegrown violent extremist," "lone wolf," and "lone actor," through rulemaking.

Committee Categories

Business and Industry

Sponsors (11)

Last Action

Referred to the House Committee on Financial Services. (on 11/15/2019)

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