Bill > HR2155

This bill, titled the "Saving Privacy Act," is a comprehensive legislative proposal aimed at reforming financial privacy, regulatory oversight, and digital currency regulations. The bill encompasses multiple key provisions across several titles, including bank privacy reforms, amendments to the Right to Financial Privacy Act, restrictions on the Consolidated Audit Trail, prohibitions on central bank digital currency, enhanced congressional review of agency rulemaking, penalties for suspicious financial activities, modifications to online payment reporting, and protections for convertible virtual currencies. Specifically, the bill seeks to strengthen financial record confidentiality by requiring government authorities to obtain search warrants before accessing financial records, terminates the Consolidated Audit Trail database that collects personally identifiable information, prevents federal agencies from issuing a central bank digital currency, implements a new congressional review process for federal regulations that would require congressional approval for major rules, establishes criminal and civil penalties for unauthorized financial record disclosures, increases reporting thresholds for third-party online payment transactions, and prohibits federal agencies from restricting individuals' use of convertible virtual currencies for personal purchases. The legislation aims to enhance financial privacy, reduce government surveillance, and provide more congressional oversight of regulatory actions.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/2155/all-info