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S. 3318

Taylor Force Martyr Payment Prevention Act of 2021

Taylor Force Martyr Payment Prevention Act of 2021

This bill expands the institutional factors the Department of the Treasury must consider when making a finding that a foreign financial institution is of primary money laundering concern and is therefore subject to special measures, including the prohibition of opening or maintaining correspondent accounts in U.S financial institutions. Specifically, Treasury must consider (1) the extent to which an institution knowingly provides financial services to Hamas, or to an agent of Hamas; and (2) the extent to which an institution, transaction, or type of account is used to facilitate or promote payments for certain acts of terrorism against U.S. and Israeli citizens.

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sen. Cotton, Tom [R-AR](R-AR)Sponsor
17 cosponsors17 R
17cosponsors1committees2actions1related bills
  1. IntroReferral

    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Banking, Housing, and Urban Affairs Committee
  2. IntroReferral10000

    Introduced in Senate

Taylor Force Martyr Payment Prevention Act of 2021 — Informed