To require the Director of the Financial Crimes Enforcement Network and the Administrator of the Small Business Administration to enter into a memorandum of understanding to ensure the dissemination of covered information, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To require the Director of the Financial Crimes Enforcement Network and the
Administrator of the Small Business Administration to enter into a memorandum of
understanding to ensure the dissemination of covered information, and for other
purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Government Operations, Defense.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H599A8ECE02BB440885A79FDCB37C672C: 1. Short title This Act may be cited as the FinCEN–SBA Coordination on Beneficial Ownership Registration Act.
- Section H54EBAA65F994475A82C1CB69F4F3DF4C: 2. Sense of Congress It is the sense of Congress that— malign actors seek to conceal their ownership of corporations, limited liability companies, or other...
- Section H993080FCAE60472F8BB8AAF5240CF79C: 3. Definitions In this Act: The terms Administration and Administrator mean the Small Business Administration and the Administrator thereof, respectively. The...
- Section HCB759A7C025C4B94AA8C5757B85E09D9: 4. Memorandum of understanding to ensure the dissemination of covered information Not later than 30 days after the date of enactment of this Act, the...
- Section HABB1CD539167402FB8E5B75E1B56BEEA: 5. Reports Not later than 30 days after the date on which the Director and Administrator enter into a memorandum of understanding under section 4(b), and every...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To require the Director of the Financial Crimes Enforcement Network and the Administrator of the Small Business Administration to enter into a memorandum of understanding to ensure the dissemination of covered information, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Government Operations, Defense
Primary Purpose
This bill, To require the Director of the Financial Crimes Enforcement Network and the Administrator of the Small Business Administration to enter into a memorandum of understanding to ensure the dissemination of covered information, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMr. Markey (for himself, Ms. Warren, and Mr. Whitehouse) introduced …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "administrator_of_sba"
- → Administrator of the Small Business Administration
- "secretary_of_treasury"
- → Secretary of the Treasury
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology