H.R. 1450 · Where this bill is now
In the Senate
Passed the House Jul 21, 2025. Received Jul 22, 2025; no Senate vote yet
What this bill does
In plain words · AI-written from the official summaryOFAC licensing program for investigator firms
This bill would require the Office of Foreign Assets Control (OFAC), the Treasury Department agency that enforces economic sanctions, to create a pilot program. Under this program, private companies could get licenses to conduct small financial transactions as part of their investigations into possible violations of U.S. sanctions. Licensed firms would have to report to OFAC every month about what they do under the license.
How it affects you
This mainly affects private companies that investigate whether other businesses are breaking U.S. sanctions rules. The license would give these investigator firms a new tool to do their work, though most everyday people wouldn't directly notice the change.
Read the official summary (Introduced in House, Feb 21, 2025)
OFAC Licensure for Investigators Act
This bill requires the Office of Foreign Assets Control (OFAC) to establish a pilot program to license eligible private sector firms to conduct nominal financial transactions as part of the firm's sanctions-related investigations.
A firm that receives a license must submit monthly reports to OFAC on activities conducted under the license.
(OFAC, within the Department of the Treasury, is one of the primary agencies responsible for enforcing economic sanctions. OFAC requires firms to take various actions, such as ensuring that they are not engaging in transactions with entities subject to U.S. sanctions. A firm may also provide voluntary self-disclosures to OFAC with information from a firm's investigation of suspicious activities.)
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionH. R. 1450
AN ACT
OFAC Licensure for Investigators Act
Sponsor: Rep. Joyce Beatty (D-OH-3) · Introduced Feb 21, 2025 · International Affairs · 4 versions of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Jul 22, 2025: “Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.”
Sections
The wording of this bill hasn’t changed across its 4 official versions.