US HB147

Secretary of the Treasury must keep House Financial Services and Senate Banking committees fully informed of Financial Crimes Enforcement Network (FinCEN) activities, including significant anticipated activities and any unlawful conduct with corrective actions taken

Treasury must disclose to Congress and the public all "controlling documents" that delegate authority to FinCEN for implementing the Bank Secrecy Act, including current documents and any future changes or revocations

Extends the required duration for FinCEN Director testimony to Congress from 5 years to 10 years under beneficial ownership reporting provisions

Establishes annual small business working groups to share information on beneficial ownership effectiveness, coordinate between FinCEN and small businesses, and provide guidance on reporting obligations

Prohibits any new appropriations to fund the small business working group requirements