International Financial Institution Counter Terrorism Accountability Act

HR 6588, the International Financial Institution Counter Terrorism Accountability Act, requires the U.S. Treasury Secretary to submit a detailed report to Congress within 180 days of enactment. The report must list countries supported by the World Bank and IMF, detail their anti-terrorism financing and money laundering programs, disclose spending on these efforts (including U.S. government funds over 10 years), and evaluate program effectiveness. Within 90 days of the report, the Treasury must develop recommendations to improve these efforts and direct U.S. representatives at the World Bank and IMF to advocate for their implementation. The bill directly affects the World Bank and IMF by mandating transparency and accountability in their counter-terrorism financing work.