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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.)
Introduced
Feb 21, 2025
Last Action
Jul 22, 2025
Session
119th Congress
Sponsors
1 primary · 1 co
Passage Probability
2% — Very Low
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
DEBATE - The House proceeded with forty minutes of debate on H.R. 1450.
Mr. Hill (AR) moved to suspend the rules and pass the bill.
Considered under suspension of the rules.
On motion to suspend the rules and pass the bill Agreed to by voice vote.
Motion to reconsider laid on the table Agreed to without objection.
Placed on the Union Calendar, Calendar No. 34.
Reported by the Committee on Financial Services. H. Rept. 119-47, Part I.
Committee on Foreign Affairs discharged.
Ordered to be Reported by the Yeas and Nays: 49 - 0.
Committee Consideration and Mark-up Session Held
Introduced in House
Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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2%
Estimate based on legislative signals
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Upgrade to ProReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.