US HB1602

Requires the Secretary of the Treasury to submit annual reports to Congress detailing the number and types of Bank Secrecy Act reports filed with FinCEN, including Currency Transaction Reports, Suspicious Activity Reports, and beneficial ownership information

Mandates disclosure of written protocols governing how national security, law enforcement, and intelligence agencies access, retain, and disseminate FinCEN data, along with the number of queries made and any access denials or revocations

Requires annual review and revision of agency access protocols in consultation with the Director of National Intelligence and Attorney General to better protect civil liberties and privacy rights of U.S. persons

Establishes congressional oversight by requiring the Treasury Secretary to provide copies of access protocols upon request and notify Congress within 30 days of any revisions

Contains a 7-year sunset provision after which the new reporting and protocol requirements automatically expire