On the recordOctober 22, 2019
The Hill amendment requires FinCEN to develop protocols governing how law enforcement and others can access the beneficial ownership database. Today, in order for law enforcement to access FinCEN's Bank Secrecy Act database, they must comply with a stringent process requiring assessment, training, and review. H.R. 2513 also includes protocols governing access to the new beneficial ownership database, including creating an audit trail of the law enforcement agencies that access the data. Mr. Hill's amendment would provide an added measure of protection, reinforcing the importance of clear procedures to ensure that such information is not inappropriately accessed or misused by law enforcement agencies. I will vote in support of this amendment. Mr. Chair, I reserve the balance of my time.
