Today, the U.S. House of Representatives passed bipartisan financial services legislation to combat the use of financial technology for illicit finance and bring long overdue accountability to the Department of Housing and Urban Development (HUD).
The financial services bills passed by the House include:
H.R. 2969, the “Financial Technology Protection Act of 2023,” sponsored by Rep. Zach Nunn (IA-03), establishes the Independent Financial Technology Working Group to Combat Terrorism and Illicit Financing under the Department of Treasury. It also encourages public-private sector partnership in examining issues surrounding illicit finance in the digital asset ecosystem.
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Watch Rep. Nunn’s remarks in support of H.R. 2969 here or by clicking on the image above.
H.R. 7280, the “HUD Transparency Act of 2024,” sponsored by Rep. Monica De La Cruz (TX-15), increases congressional oversight and public accountability for HUD and its programs by requiring the HUD Inspector General to testify before the Committee on an annual basis.
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Watch Rep. De La Cruz’s remarks in support of H.R. 7280 here or by clicking on the image above.
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