H.R. 3880 — 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. | PoliFocus

H.R. 3880112th Congress

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.

Subjects

International Affairs

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.

Full Text

Legislative Actions

2012-02-02
Introduced in House
2012-02-02
Introduced in House
2012-02-02
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.
2012-02-02
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.
2012-02-23
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
2012-02-23
Referred to the Subcommittee on International Monetary Policy and Trade.

Ask about this bill

checking server…

Ask anything about this bill. The AI reads the full text to answer.