Stop Fentanyl Money Laundering Act of 2025
This bill gives the Treasury Secretary authority to identify foreign financial institutions or transactions as primary money laundering concerns for fentanyl trafficking, requiring U.S. domestic financial institutions to implement specific anti-money laundering measures. It mandates updated advisories for banks to identify Chinese professional money laundering schemes facilitating fentanyl trafficking, incorporating three existing financial crime advisories. The bill also requires the Financial Crimes Enforcement Network to issue guidance for reporting suspicious transactions linked to transnational criminal organizations trafficking narcotics. These provisions directly affect U.S. banks and financial agencies by imposing new reporting obligations and compliance requirements related to fentanyl-related money laundering.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
President
Introduced Feb 25, 2025
Last action Mar 21, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
6
Key actions
2
Committee
3
Amendments
1
Mar 21, 2025
Lower · Passed
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-22.
lower
Mar 5, 2025
Introduced
Ordered to be Reported (Amended) by the Yeas and Nays: 49 - 0.
lower
Mar 5, 2025
Lower · Passed
Committee Consideration and Mark-up Session Held
lower
Feb 25, 2025
Committee
Referred to the House Committee on Financial Services.
lower
Feb 25, 2025
Introduced
Introduced in House
lower
1 primary · 9 co-sponsors
Sponsors
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