Protect Small Businesses from Excessive Paperwork Act of 2025This bill extends the deadline for certain companies that are required to file beneficial ownership information with the Financial Crimes Enforcement Network (FinCEN). Specifically, the bill requires companies formed or registered before January 1, 2024, to submit this information to FinCEN by January 1, 2026, instead of by January 1, 2025, as required under current regulations.
Colonel Young Oak Kim Congressional Gold Medal ActThis bill provides for the posthumous award of a Congressional Gold Medal to Colonel Young Oak Kim in recognition of his achievements and contributions to heroism, leadership, and humanitarianism.
Ending Scam Credit Repair Act or the ESCRA ActThis bill revises the Credit Repair Organizations Act and creates additional requirements for credit repair organizations (CROs).Under current law, it is illegal for a person (including a CRO) to make false or misleading statements regarding a consumer’s creditworthiness or standing to a consumer reporting agency or to a consumer credit provider. The bill additionally prohibits making such statements to the Consumer Financial Protection Bureau, the Federal Trade Commission, or law enforcement. To be subject to this prohibition, the bill also requires such statements to be made knowingly.The bill also revises CRO obligations to consumers. A CRO is prohibited from charging a consumer for a service (e.g., getting inaccurate information removed from a credit report) until the CRO provides proof of success not less than six months after providing the service. The bill also requires additional disclosures to consumers, requires the retention of any recorded telephone calls, and increases the time records must be retained from two to five years. In addition, consumers must be given copies of all communications sent on their behalf.Under the bill, all persons must be licensed by a state to act as a CRO. The bill also restricts a CRO’s ability to submit multiple credit disputes regarding the same information.The bill also sets a minimum liability amount for damages of $500 for each violation of the Credit Repair Organizations Act.
Border Security Investment ActThis bill imposes a fee on the electronic transfer of funds (i.e., remittances) sent to certain countries and provides funding for border security activities from the collected amounts.Specifically, the fee shall apply to remittances sent through money services business to one of the five countries that had the most citizens or nationals unlawfully enter the United States in the previous fiscal year, as determined by U.S. Customs and Border Protection. The fee must be 37% of the amount sent.Half of the money collected by the fee must be placed in a trust fund for reimbursing border states for expenses incurred for border security enforcement measures. The other half must be placed in another trust fund for (1) deploying technology and installing physical barriers along the U.S.-Mexico border, and (2) paying the wages and salaries of U.S. Border Patrol agents.If the amount in the trust funds exceeds a certain threshold, the excess money must be used only for deficit reduction.
No Support for Terror ActThis bill establishes measures to prevent the allocation or use of certain funds to support genocide or terrorism.Specifically, the bill requires the Department of the Treasury to instruct the U.S. Executive Director at the International Monetary Fund (IMF) to oppose the allocation of Special Drawing Rights to any country that is a perpetrator of genocide or a state sponsor of terrorism and to advocate that the IMF adopt a rule prohibiting such an allocation. (Special Drawing Rights are international reserve assets created by the IMF to supplement member countries' official foreign exchange reserves.)Further, the bill requires Treasury, the Department of State, and the U.S. Agency for International Development to jointly review and report on assistance provided to nongovernmental organizations and international organization to ensure such assistance is not being provided to the Taliban or other terrorist organizations. Each prime awardee of this assistance must provide evidence that all subawardees are complying with U.S. anti-terrorism financing laws.
James J. Andrews and William H. Campbell Congressional Gold Medal ActThis bill provides for the award of a single Congressional Gold Medal in commemoration of James J. Andrews and William H. Campbell to recognize their bravery and devotion during the Civil War as the only civilian members of Andrews’ Raiders, who launched a daring military raid that became known as the Great Locomotive Chase.
Drug Testing for Welfare Recipients ActThis bill requires states participating in the Temporary Assistance for Needy Families program, the Supplemental Nutrition Assistance Program, and specified public housing programs to subject applicants to substance abuse testing or screening and to deny benefits for individuals who test positive for a controlled substance.Specifically, states administering these programs must determine whether an adult applicant for benefits has been arrested for a drug-related offense within the past five years. Applicants who have been arrested for such an offense must be tested for at least one controlled substance and must test negative to receive benefits. Applicants who have not been arrested for such an offense must be screened (via an interview, questionnaire, or other instrument) for risk of substance abuse. Applicants determined to be at high risk for substance abuse must be tested for at least one controlled substance and must test negative to receive benefits. Applicants who are determined not to be at high risk do not have to undergo testing. Applicants who test positive for a controlled substance at any point during this process are ineligible for benefits for one year, until they complete a treatment program, or until they test negative for the substance, whichever is later. Family members and households of individuals disqualified from receiving benefits under these provisions may generally continue to receive support.States that fail to enforce these provisions are subject to reduced federal funding for these programs the following fiscal year.
Wildfire Insurance Coverage Study Act of 2025 This bill requires reports regarding wildfire risk and damage. Specifically, the Government Accountability Office (GAO) must report on trends in wildfire declarations, mitigation practices, state and federal programs regarding wildfire risk, and the need for a national map of wildfire risks.The GAO must also report on (1) the availability and cost of wildfire insurance coverage for homes and commercial property, (2) state regulatory responses to increasing costs of coverage, and (3) impediments to private wildfire insurance coverage.
Bank Privacy Reform Act This bill eliminates provisions that require financial institutions to report certain financial information to specified government agencies. Currently, financial institutions are required to report certain financial transactions (e.g., transfers of over $10,000) for the purpose of detecting illicit activity, such as money laundering or the financing of terrorism. Under the bill, such records are only obtainable through a search warrant.The bill also eliminates reporting requirements related to the beneficial ownership of certain corporate entities.