US HB3880 | 2011-2012 | 112th Congress

US Congress House Bill 3880 (Prior Session Legislation)

Status

Spectrum: Moderate Partisan Bill (Republican 4-1)
Status: Introduced on February 2 2012 - 25% progression, died in committee
Action: 2012-02-23 - Referred to the Subcommittee on International Monetary Policy and Trade.
Pending: House Subcommittee on International Monetary Policy and Trade Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Amends the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 to impose sanctions on a foreign financial institution that employs a member of the board of directors of an entity that provides, or facilitates access to, services relating to secure communications, electronic funds transfers, or cable transfers to the Central Bank of Iran or a sanctioned financial institution. Prohibits the Secretary of the Treasury from prohibiting or conditioning the opening or maintaining in the United States of a correspondent account or a payable-through account by a foreign financial institution for employing a member of the board of directors of such an entity if the services relate to petroleum-related transactions from Iran that occur before the date on which specified sanctions apply.

Title

To require the imposition of sanctions on foreign financial institutions that are members of an entity that provides services relating to secure communications, electronic funds transfers, or cable transfers to the Central Bank of Iran or sanctioned financial institutions.

History

Date	Chamber	Action
2012-02-23	House	Referred to the Subcommittee on International Monetary Policy and Trade.
2012-02-23	House	Referred to the Subcommittee on Financial Institutions and Consumer Credit.
2012-02-02	House	Referred to House Financial Services
2012-02-02	House	Referred to House Foreign Affairs
2012-02-02	House	Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.