HFSC passes CUNA-backed BSA, flood, financial literacy bills

The House Financial Services Committee passed four CUNA-supported bills at the conclusion of a two-day markup Wednesday.

CUNA wrote Tuesday in support of the bills, which cover the Bank Secrecy Act, the National Flood Insurance Program and financial literacy programs.

The bills are:

  • The Corporate Transparency Act of 2019 (H.R. 2513), which would address the redundancies, unnecessary burdens, and opportunities for efficiencies within the Bank Secrecy Act/Anti-Money Laundering statutory framework. It passed 43-16;
  • The National Flood Insurance Program (NFIP) Administration Reform Act of 2019(H.R. 3111), which would make administrative reforms to the NFIP. It passed 58-0;


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