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LA HR316
Resolution
Status
6/10/2025
Primary Sponsor
Roger Wilder
Click for details
AI Summary
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Urges Congress and the Trump administration to modernize anti-money laundering laws to focus on criminal activity rather than innocent banking activity of law-abiding customers
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Calls on federal regulatory agencies (Federal Reserve, FDIC, Office of the Comptroller of the Currency) to narrowly focus on financial system safety and soundness rather than advancing unrelated policy priorities
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Cites Operation Choke Point (2013) targeting gun sellers and payday lenders, and Operation Choke Point 2.0 (2022) targeting cryptocurrency businesses as examples of regulatory overreach pressuring banks to debank certain industries
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Requests regulators stop issuing non-binding "guidance" that effectively functions as rules without going through formal rulemaking processes
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Directs copies of the resolution be sent to the Federal Reserve chairman, acting comptroller of the currency, acting FDIC chairman, congressional leadership, and Louisiana's congressional delegation
Legislative Description
Memorializes the United States Congress to stop debanking policies
BANKS/BANKING
Last Action
Taken by the Clerk of the House and presented to the Secretary of State in accordance with the Rules of the House.
6/11/2025