H.R. 425 · 119th Congress · Finance and Financial Sector
Repealing Big Brother Overreach Act
Repeals the Corporate Transparency Act requiring beneficial ownership reporting to Treasury. AI-read
What it does
This bill repeals the Corporate Transparency Act. The act requires existing companies and newly created companies to report beneficial ownership information to the Department of the Treasury’s Financial Crimes Enforcement Network for purposes of addressing the financing of terrorism and money laundering.
Summary by the Congressional Research Service, Jan 15, 2025 (Introduced in House). CRS summarizes bills impartially; it does not take positions.
Roll call votes
No recorded roll call votes on this bill. Most bills never get one; many pass by voice vote or unanimous consent, or stay in committee.
What members said about it
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Davidson Applauds FinCEN Final Rule Ending BOI Reporting Requirements
Today, August 12, 2026, U.S. Representative Warren Davidson (R-OH) released the following statement after FinCEN issued a final rule ending beneficial ownership information reporting requirements for U.S. businesses and announced it would…
“FinCEN’s final rule is a major victory for American small business owners and financial privacy.”
Latest action
Jun 18, 2026 · Placed on the Union Calendar, Calendar No. 609.