,,ii #aaith ,,congress #ast ,session ,s4 #hji ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,february #bg1 #bjbe,mr4 ,lee 7for himself and ,mr4 ,scott of ,florida7 introduced the following bill2 which was read twice and referred to the ,committee on ,finance ,a ,,bill ,to amend the ,right to ,financial ,privacy ,act of #aigh to preserve the confidentiality of certain records1 and for other purposes4 #a4 ,short title2 table of contents 7a7 ,short title ,this ,act may be cited as the ,saving ,privacy ,act4 7b7 ,table of contents ,the table of contents for this ,act is as follows3 ,sec4 #a4 ,short title2 table of contents4,,title ,i--,bank privacy reform,sec4 #aja4 ,bank ,secrecy ,act reforms4,,title ,,ii--,amendments to the ,right to ,financial ,privacy ,act of #aigh,sec4 #bja4 ,warrant requirements and exceptions4,,title ,,iii--,consolidated audit trail ,sec4 #cja4 ,requirements and prohibitions regarding the ,consolidated ,audit ,trail4,,title ,,iv--,no central bank digital currency,sec4 #dja4 ,central bank digital currency4,,title ,v--,regulations from the executive in need of scrutiny,sec4 #eja4 ,purpose4,sec4 #ejb4 ,congressional review of certain agency rulemaking4,sec4 #ejc4 ,budgetary effects of rules subject to section #hjb of title #e1 ,united ,states ,code4,sec4 #ejd4 ,government ,accountability ,office study of rules4,,title ,,vi--,suspicious activity,sec4 #fja4 ,criminal penalties4,sec4 #fjb4 ,civil penalties4,sec4 #fjc4 ,other relief4,,title ,,vii--,stopping the nosy obsession with online payments,sec4 #gja4 ,repeal of modification of exceptions for reporting of third party network transactions4,,title ,,viii--,prohibition on restrictions relating to convertible virtual currency ,sec4 #hja4 ,short title4,sec4 #hjb4 ,prohibition on restricting use of convertible virtual currency by a person to purchase goods or services for the person's own use4 ,i ,bank privacy reform #aja4 ,bank ,secrecy ,act reforms 7a7 ,right to ,financial ,privacy ,act of #aigh ,the ,right to ,financial ,privacy ,act of #aigh 7#ab ,u4,s4,c4 #cdja et seq47 is amended-- 7#a7 by amending section #aajb 7#ab ,u4,s4,c4 #cdjb7 to read as follows3 #aajb4 ,confidentiality of records--,government authorities ,except as provided by subsection 7c7 or 7d7 of section #aajc or section #aaac1 no ,government authority may have access to or obtain copies of1 or the information contained in the financial records of any customer from a financial institution unless the financial records are reasonably described and such financial records are disclosed in response to a search warrant which meets the requirements of section #aajf4 2 7#b7 by striking sections #aajd 7#ab ,u4,s4,c4 #cdjd71 #aaje 7#ab ,u4,s4,c4 #cdje71 #aajg 7#ab ,u4,s4,c4 #cdjg71 and #aajh 7#ab ,u4,s4,c4 #cdjh72 and 7#c7 in section #aaji7;a7 7#ab ,u4,s4,c4 #cdji7;a771 by striking section #aajd7;c71 #aaje7b71 #aajf7;c71 #aajg7b71 #aajh7d71 and inserting section #aajf7;c74 7b7 ,title #ca ,chapter #ec of title #ca1 ,united ,states ,code1 is amended-- 7#a7 by amending section #ecaa to read as follows3 #ecaa4 ,declaration of purpose ,it is the purpose of this subchapter to require financial institutions to retain transaction records that include information identified with or identifiable as being derived from the financial records of particular customers4 2 7#b7 in section #ecab7;a7-- 7,a7 in paragraph 7#b71 by repealing subparagraphs 7,o71 7,q71 7,s71 7,t71 7,v71 7,y71 and 7,z72 and 7,b7 by amending paragraph 7#d7 to read as follows3 7#d7 nonfinancial trade or business means any entity engaged in trade or business other than a financial institution4 2 7#c7 by striking sections #ecac1 #ecad1 #ecae1 #ecaf1 #ecag1 #ecah;,a1 #ecbd1 #ecbf1 #ecca1 #eccb1 and #eccf2 7#d7 in section #ecah-- 7,a7 in subsection 7a7-- 7i7 in the matter preceding paragraph 7#a71 by striking 7except under section #ecae of this title and regulations prescribed under section #ecae72 7ii7 by striking paragraph 7#b72 and 7iii7 by redesignating paragraphs 7#c7 through 7#g7 as paragraphs 7#b7 through 7#f71 respectively2 and 7,b7 in subsection 7k7-- 7i7 in paragraph 7#a77;,c71 by striking has the same meaning as in section #ecah;,a7e77#a77;,b7 and inserting means an account established to receive deposits from1 make payments on behalf of a foreign financial institution1 or handle other financial transactions related to such institution2 and 7ii7 in paragraph 7#c77;,a77i7-- 7,i7 in subclause 7,,ii71 by adding or at the end2 7,,ii7 in subclause 7,,iii71 by striking 2 or and inserting a period2 and 7,,iii7 by striking subclause 7,,iv72 7#e7 in section #ecba-- 7,a7 in subsection 7a7-- 7i7 in paragraph 7#a71 by striking 7except sections #ecad1 #ecae1 and #eccf of this title or a regulation prescribed under sections #ecad1 #ecae1 and #eccf72 7ii7 by striking paragraphs 7#b71 7#c71 7#d71 and 7#e72 7iii7 in paragraph 7#f71 by striking 7except section #eccf7 each place that term appears2 7iv7 in paragraph 7#g71 by striking or any special measures imposed under section #ecah;,a2 and 7v7 by redesignating paragraphs 7#f7 and 7#g7 as paragraphs 7#b7 and 7#c71 respectively2 7,b7 by striking subsection 7c72 and 7,c7 by redesignating subsections 7d7 through 7g7 as subsection 7c7 through 7f71 respectively2 7#f7 in section #ecbb-- 7,a7 by striking 7except section #ecae1 #ecbd1 or #eccf of this title or a regulation prescribed under section #ecae1 #ecbd1 or #eccf7 each place that term appears2 and 7,b7 in subsection 7d7-- 7i7 by striking 1 or any special measures imposed under section #ecah;,a12 and 7ii7 by striking or section #ecah;,a2 7#g7 in section #ecbe7;a71 in the matter preceding paragraph 7#a71 by inserting after #c1jjj the following3 7as such amount is annually adjusted by the ,secretary to reflect the percentage change in the ,consumer ,price ,index for ,all ,urban ,consumers published by the ,bureau of ,labor ,statistics of the ,department of ,labor72 7#h7 in section #eccj7;d77#a7-- 7,a7 in subparagraph 7,a71 by adding and at the end2 7,b7 by striking subparagraph 7,b72 and 7,c7 by redesignating subparagraph 7,c7 as subparagraph 7,b72 7#i7 in section #ecce-- 7,a7 by striking subsection 7c72 and 7,b7 by redesignating subsections 7d7 and 7e7 as subsections 7c7 and 7d71 respectively2 7#aj7 by striking subchapter ,,iii2 and 7#aa7 in the table of contents for chapter #ec1 by striking the items relating to-- 7,a7 sections #ecac1 #ecad1 #ecae1 #ecaf1 #ecag1 #ecah;,a1 #ecbd1 #ecbf1 #ecca1 #eccb1 and #eccf2 and 7,b7 subchapter ,,iii4 ,,ii ,amendments to the ,right to ,financial ,privacy ,act of #aigh #bja4 ,warrant requirements and exceptions ,the ,right to ,financial ,privacy ,act of #aigh 7#ab ,u4,s4,c4 #cdja et seq47 is amended-- 7#a7 in section #aajh 7#ab ,u4,s4,c4 #cdjh7-- 7,a7 by striking paragraph 7#b72 and 7,b7 by redesignating paragraphs 7#c7 and 7#d7 as paragraphs 7#b7 and 7#c71 respectively2 and 7#b7 in section #aaac 7#ab ,u4,s4,c4 #cdac7-- 7,a7 by repealing subsections 7a71 7d71 7e71 7f71 7g71 7i71 7l71 7m71 7n71 7p71 7q71 and 7r72 and 7,b7 by adding at the end the following3 7s7 ,access of records 7#a7 ,in general ,notwithstanding any other provision of this title1 the ,federal ,government may not access the financial records or information of an individual in a manner that is prohibited by the ,fourth ,amendment to the ,constitution of the ,united ,states with respect to the records or information in question4 7#b7 ,aid in statutory construction ,it is the sense of ,congress that1 through the enactment of this title1 ,congress has established a statutory right that ensures that the expectation of privacy that the people of the ,united ,states have with respect to financial records is protected4 4 ,,iii ,consolidated audit trail #cja4 ,requirements and prohibitions regarding the ,consolidated ,audit ,trail 7a7 ,definitions ,in this section3 7#a7 ,commission ,the term ,commission means the ,securities and ,exchange ,commission4 7#b7 ,consolidated ,audit ,trail ,the term ,consolidated ,audit ,trail means the consolidated audit trail and central repository created1 implemented1 and maintained pursuant to section #bdb4fac of title #ag1 ,code of ,federal ,regulations1 as in effect on the day before the date of enactment of this ,act4 7#c7 ,personally identifiable information ,the term personally identifiable information-- 7,a7 means information that can be used to distinguish or trace the identity of an individual1 either alone or when combined with other personal or identifying information that is linked or linkable to a specific individual1 including the name1 address1 date or year of birth1 ,social ,security number1 telephone number1 email1 or ,,ip-address of an individual2 and 7,b7 does not include a ,,cat-,order-,,id or ,,cat-,reporter-,,id1 as those terms are defined in section #bdb4fac7;j7 of title #ag1 ,code of ,federal ,regulations 7or any successor regulation74 7#d7 ,self-regulatory organization ,the term self-regulatory organization has the meaning given the term in section #c7;a7 of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gh;c7a774 7b7 ,requirement ,the ,commission shall-- 7#a7 not later than #cj days after the date of enactment of this ,act1 and notwithstanding any other provision of law or regulation1 terminate the ,consolidated ,audit ,trail2 and 7#b7 not later that #abj days after the date of enactment of this ,act1 amend any regulation1 no action letter1 interpretive letter1 exemptive letter1 legal bulletin1 or other guidance of the ,commission to conform to the requirements of this section4 7c7 ,prohibitions ,on and after the date that the ,commission carries out the termination required under subsection 7b77#a7-- 7#a7 neither the ,commission nor any self-regulatory organization may administer the ,consolidated ,audit ,trail2 and 7#b7 no ,federal agency may establish any consolidated audit trail1 central repository1 or other centralized database that collects personally identifiable information of citizens of the ,united ,states1 unless a duly enacted law of the ,united ,states specifically provides the ,federal agency with the authority to take that action4 7d7 ,reimbursement of fees ,not later than #a year after the date of enactment of this ,act1 ,consolidated ,audit ,trail1 ,,llc and ,,finra ,,cat1 ,,llc shall reimburse all fees collected by those entities before that date to carry out the ,consolidated ,audit ,trail4 ,,iv ,no central bank digital currency #dja4 ,central bank digital currency ,section #ac of the ,federal ,reserve ,act is amended by adding after the #adth undesignated paragraph 7#ab ,u4,s4,c4 #cdg;d7 the following3 ,no ,federal reserve bank1 the ,board1 the ,secretary of the ,treasury1 any other agency1 or any entity directed to act on behalf of the ,federal reserve bank1 the ,board1 the ,secretary1 or other agency1 may mint or issue a central bank digital currency directly to an individual 7including a central bank digital currency issued to an individual through a custodial intermediary7 or a digital currency intermediary1 offer related products or services directly to an individual1 or maintain an account on behalf of an individual 7including an account in a specially designated account at a digital currency intermediary or supervised commercial bank74 ,no ,federal reserve bank may hold digital currencies minted or issued by the ,united ,states ,government as assets or liabilities on a balance sheet of the bank or use such digital currencies as part of fulfilling the requirements under section #b;,a4 4 ,v ,regulations from the executive in need of scrutiny #eja4 ,purpose ,the purpose of this title is to increase accountability for and transparency in the ,federal regulatory process4 ,section #a of article ,i of the ,united ,states ,constitution grants all legislative powers to ,congress4 ,over time1 ,congress has excessively delegated its constitutional charge while failing to conduct appropriate oversight and retain accountability for the content of the laws it passes4 ,by requiring a vote in ,congress1 the ,,reins ,act will result in more carefully drafted and detailed legislation1 an improved regulatory process1 and a legislative branch that is truly accountable to the ,american people for the laws imposed upon them4 #ejb4 ,congressional review of certain agency rulemaking 7a7 ,in general ,chapter #h of title #e1 ,united ,states ,code1 is amended to read as follows3 #h ,congressional ,review of ,certain ,agency ,rulemaking ,sec4 #hja4 ,congressional review4 #hjb4 ,congressional approval procedure for major rules4 #hjc4 ,congressional disapproval procedure for nonmajor rules4 #hjd4 ,definitions4 #hje4 ,judicial review4 #hjf4 ,exemption for monetary policy4 #hjg4 ,effective date of certain rules4#hjh4 ,review of rules currently in effect4 #hja4 ,congressional review 7a7 7#a7 7,a7 ,before a rule may take effect1 the ,federal agency promulgating such rule shall publish in the ,federal ,register a list of information on which the rule is based1 including data1 scientific and economic studies1 and cost-benefit analyses1 and identify how the public can access such information online1 and shall submit to each ,house of the ,congress and to the ,comptroller ,general a report containing-- 7i7 a copy of the rule2 7ii7 a concise general statement relating to the rule2 7iii7 a finding1 rendered in consultation with the ,administrator of the ,office of ,information and ,regulatory ,affairs of the ,office of ,management and ,budget1 whether the rule is a major or nonmajor rule1 including an explanation of the finding specifically addressing each criteria for a major rule contained within subparagraphs 7,a7 through 7,c7 of section #hjd7b72 7iv7 a list of any other related regulatory actions intended to implement the same statutory provision or regulatory objective as well as the individual and aggregate economic effects of those actions2 7v7 the proposed effective date of the rule2 and 7vi7 a statement of the constitutional authority authorizing the agency to make the rule4 7,b7 ,on the date of the submission of the report under subparagraph 7,a71 the ,federal agency promulgating the rule shall submit to the ,comptroller ,general and make available to each ,house of ,congress 7and to each committee of jurisdiction in each ,house7-- 7i7 a complete copy of the cost-benefit analysis of the rule1 if any1 including an analysis of any jobs added or lost1 differentiating between public and private sector jobs2 7ii7 the agency's actions pursuant to sections #fjc1 #fjd1 #fje1 #fjg1 and #fji of this title2 7iii7 the agency's actions pursuant to sections #bjb1 #bjc1 #bjd1 and #bje of the ,unfunded ,mandates ,reform ,act of #aiie2 7iv7 an estimate of the effect on inflation of the rule2 and 7v7 any other relevant information or requirements under any other ,act and any relevant ,executive orders4 7,c7 ,upon receipt of a report submitted under subparagraph 7,a71 each ,house shall provide copies of the report to the chairman and ranking member of each standing committee with jurisdiction under the rules of the ,house of ,representatives or the ,senate to report a bill to amend the provision of law under which the rule is issued4 7,d7 ,if requested in writing by a member of ,congress-- 7i7 the ,comptroller ,general shall make a determination whether an agency action qualifies as a rule for purposes of this chapter1 and shall submit to ,congress this determination not later than #fj days after the date of the request2 and 7ii7 the ,comptroller ,general1 in consultation with the ,director of the ,congressional ,budget ,office1 shall make a determination whether a rule is considered a major rule under the provisions of this act1 and shall submit to ,congress this determination not later than #ij days after the date of the request4 ,for purposes of this section1 a determination under this subparagraph shall be deemed to be a report under subparagraph 7,a74 7#b7 7,a7 ,the ,comptroller ,general shall provide a report on each major rule to the committees of jurisdiction by the end of #ae calendar days after the submission or publication date4 ,the report of the ,comptroller ,general shall include an assessment of the agency's compliance with procedural steps required by paragraph 7#a77;,b7 and an assessment of whether the major rule imposes any new limits or mandates on private-sector activity4 7,b7 ,federal agencies shall cooperate with the ,comptroller ,general by providing information relevant to the ,comptroller ,general's report under subparagraph 7,a74 7#c7 ,a major rule relating to a report submitted under paragraph 7#a7 shall take effect upon enactment of a joint resolution of approval described in section #hjb or as provided for in the rule following enactment of a joint resolution of approval described in section #hjb1 whichever is later4 7#d7 ,a nonmajor rule shall take effect as provided by section #hjc after submission to ,congress under paragraph 7#a74 7#e7 ,if a joint resolution of approval relating to a major rule is not enacted within the period provided in subsection 7b77#b71 then a joint resolution of approval relating to the same rule may not be considered under this chapter in the same ,congress by either the ,house of ,representatives or the ,senate4 7b7 7#a7 ,a major rule shall not take effect unless the ,congress enacts a joint resolution of approval described under section #hjb4 7#b7 ,if a joint resolution described in subsection 7a7 is not enacted into law by the end of #gj session days or legislative days1 as applicable1 beginning on the date on which the report referred to in subsection 7a77#a77;,a7 is received by ,congress 7excluding days either ,house of ,congress is adjourned for more than #c days during a session of ,congress71 then the rule described in that resolution shall be deemed not to be approved and such rule shall not take effect4 7c7 7#a7 ,notwithstanding any other provision of this section 7except subject to paragraph 7#c771 a major rule may take effect for one #ij-;calendar-day period if the ,president makes a determination under paragraph 7#b7 and submits written notice of such determination to the ,congress4 7#b7 ,paragraph 7#a7 applies to a determination made by the ,president by ,executive order that the major rule should take effect because such rule is-- 7,a7 necessary because of an imminent threat to health or safety or other emergency2 7,b7 necessary for the enforcement of criminal laws2 7,c7 necessary for national security2 or 7,d7 issued pursuant to any statute implementing an international trade agreement4 7#c7 ,an exercise by the ,president of the authority under this subsection shall have no effect on the procedures under section #hjb4 7d7 7#a7 ,in addition to the opportunity for review otherwise provided under this chapter1 in the case of any rule for which a report was submitted in accordance with subsection 7a77#a77;,a7 during the period beginning on the date occurring-- 7,a7 in the case of the ,senate1 #fj session days2 or 7,b7 in the case of the ,house of ,representatives1 #fj legislative days1 before the date the ,congress is scheduled to adjourn a session of ,congress through the date on which the same or succeeding ,congress first convenes its next session1 sections #hjb and #hjc shall apply to such rule in the succeeding session of ,congress4 7#b7 7,a7 ,in applying sections #hjb and #hjc for purposes of such additional review1 a rule described under paragraph 7#a7 shall be treated as though-- 7i7 such rule were published in the ,federal ,register on-- 7,i7 in the case of the ,senate1 the #aeth session day2 or 7,,ii7 in the case of the ,house of ,representatives1 the #aeth legislative day1 after the succeeding session of ,congress first convenes2 and 7ii7 a report on such rule were submitted to ,congress under subsection 7a77#a7 on such date4 7,b7 ,nothing in this paragraph shall be construed to affect the requirement under subsection 7a77#a7 that a report shall be submitted to ,congress before a rule can take effect4 7#c7 ,a rule described under paragraph 7#a7 shall take effect as otherwise provided by law 7including other subsections of this section74 #hjb4 ,congressional approval procedure for major rules 7a7 7#a7 ,for purposes of this section1 the term joint resolution means only a joint resolution addressing a report classifying a rule as major pursuant to section #hja7;a77#a77;,a77iii7 that-- 7,a7 bears no preamble2 7,b7 bears the following title 7with blanks filled as appropriate73 ,approving the rule submitted by relating to 42 7,c7 includes after its resolving clause only the following 7with blanks filled as appropriate73 ,that ,congress approves the rule submitted by relating to 42 and 7,d7 is introduced pursuant to paragraph 7#b74 7#b7 ,after a ,house of ,congress receives a report classifying a rule as major pursuant to section #hja7;a77#a77;,a77iii71 the majority leader of that ,house 7or his or her respective designee7 shall introduce 7by request1 if appropriate7 a joint resolution described in paragraph 7#a7-- 7,a7 in the case of the ,house of ,representatives1 within #c legislative days2 and 7,b7 in the case of the ,senate1 within #c session days4 7#c7 ,a joint resolution described in paragraph 7#a7 shall not be subject to amendment at any stage of proceeding4 7b7 ,a joint resolution described in subsection 7a7 shall be referred in each ,house of ,congress to the committees having jurisdiction over the provision of law under which the rule is issued4 7c7 ,in the ,senate1 if the committee or committees to which a joint resolution described in subsection 7a7 has been referred have not reported it at the end of #ae session days after its introduction1 such committee or committees shall be automatically discharged from further consideration of the resolution and it shall be placed on the calendar4 ,a vote on final passage of the resolution shall be taken on or before the close of the #aeth session day after the resolution is reported by the committee or committees to which it was referred1 or after such committee or committees have been discharged from further consideration of the resolution4 7d7 7#a7 ,in the ,senate1 when the committee or committees to which a joint resolution is referred have reported1 or when a committee or committees are discharged 7under subsection 7c77 from further consideration of a joint resolution described in subsection 7a71 it is at any time thereafter in order 7even though a previous motion to the same effect has been disagreed to7 for a motion to proceed to the consideration of the joint resolution1 and all points of order against the joint resolution 7and against consideration of the joint resolution7 are waived4 ,the motion is not subject to amendment1 or to a motion to postpone1 or to a motion to proceed to the consideration of other business4 ,a motion to reconsider the vote by which the motion is agreed to or disagreed to shall not be in order4 ,if a motion to proceed to the consideration of the joint resolution is agreed to1 the joint resolution shall remain the unfinished business of the ,senate until disposed of4 7#b7 ,in the ,senate1 debate on the joint resolution1 and on all debatable motions and appeals in connection therewith1 shall be limited to not more than #b hours1 which shall be divided equally between those favoring and those opposing the joint resolution4 ,a motion to further limit debate is in order and not debatable4 ,an amendment to1 or a motion to postpone1 or a motion to proceed to the consideration of other business1 or a motion to recommit the joint resolution is not in order4 7#c7 ,in the ,senate1 immediately following the conclusion of the debate on a joint resolution described in subsection 7a71 and a single quorum call at the conclusion of the debate if requested in accordance with the rules of the ,senate1 the vote on final passage of the joint resolution shall occur4 7#d7 ,appeals from the decisions of the ,chair relating to the application of the rules of the ,senate to the procedure relating to a joint resolution described in subsection 7a7 shall be decided without debate4 7e7 ,in the ,house of ,representatives1 if any committee to which a joint resolution described in subsection 7a7 has been referred has not reported it to the ,house at the end of #ae legislative days after its introduction1 such committee shall be discharged from further consideration of the joint resolution1 and it shall be placed on the appropriate calendar4 ,on the second and fourth ,thursdays of each month it shall be in order at any time for the ,speaker to recognize a ,member who favors passage of a joint resolution that has appeared on the calendar for at least #e legislative days to call up that joint resolution for immediate consideration in the ,house without intervention of any point of order4 ,when so called up a joint resolution shall be considered as read and shall be debatable for #a hour equally divided and controlled by the proponent and an opponent1 and the previous question shall be considered as ordered to its passage without intervening motion4 ,it shall not be in order to reconsider the vote on passage4 ,if a vote on final passage of the joint resolution has not been taken by the third ,thursday on which the ,speaker may recognize a ,member under this subsection1 such vote shall be taken on that day4 7f7 7#a7 ,if1 before passing a joint resolution described in subsection 7a71 one ,house receives from the other a joint resolution having the same text1 then-- 7,a7 the joint resolution of the other ,house shall not be referred to a committee2 and 7,b7 the procedure in the receiving ,house shall be the same as if no joint resolution had been received from the other ,house until the vote on passage1 when the joint resolution received from the other ,house shall supplant the joint resolution of the receiving ,house4 7#b7 ,this subsection shall not apply to the ,house of ,representatives if the joint resolution received from the ,senate is a revenue measure4 7g7 ,if either ,house has not taken a vote on final passage of the joint resolution by the last day of the period described in section #hja7;b77#b71 then such vote shall be taken on that day4 7h7 ,this section and section #hjc are enacted by ,congress-- 7#a7 as an exercise of the rulemaking power of the ,senate and ,house of ,representatives1 respectively1 and as such are deemed to be part of the rules of each ,house1 respectively1 but applicable only with respect to the procedure to be followed in that ,house in the case of a joint resolution described in subsection 7a7 and superseding other rules only where explicitly so2 and 7#b7 with full recognition of the constitutional right of either ,house to change the rules 7so far as they relate to the procedure of that ,house7 at any time1 in the same manner and to the same extent as in the case of any other rule of that ,house4 #hjc4 ,congressional disapproval procedure for nonmajor rules 7a7 ,for purposes of this section1 the term joint resolution means only a joint resolution introduced in the period beginning on the date on which the report referred to in section #hja7;a77#a77;,a7 is received by ,congress and ending #fj days thereafter 7excluding days either ,house of ,congress is adjourned for more than #c days during a session of ,congress71 the matter after the resolving clause of which is as follows3 ,that ,congress disapproves the nonmajor rule submitted by the relating to 1 and such rule shall have no force or effect4 7,the blank spaces being appropriately filled in74 7b7 ,a joint resolution described in subsection 7a7 shall be referred to the committees in each ,house of ,congress with jurisdiction4 7c7 ,in the ,senate1 if the committee to which is referred a joint resolution described in subsection 7a7 has not reported such joint resolution 7or an identical joint resolution7 at the end of #ae session days after the date of introduction of the joint resolution1 such committee may be discharged from further consideration of such joint resolution upon a petition supported in writing by #cj ,members of the ,senate1 and such joint resolution shall be placed on the calendar4 7d7 7#a7 ,in the ,senate1 when the committee to which a joint resolution is referred has reported1 or when a committee is discharged 7under subsection 7c77 from further consideration of a joint resolution described in subsection 7a71 it is at any time thereafter in order 7even though a previous motion to the same effect has been disagreed to7 for a motion to proceed to the consideration of the joint resolution1 and all points of order against the joint resolution 7and against consideration of the joint resolution7 are waived4 ,the motion is not subject to amendment1 or to a motion to postpone1 or to a motion to proceed to the consideration of other business4 ,a motion to reconsider the vote by which the motion is agreed to or disagreed to shall not be in order4 ,if a motion to proceed to the consideration of the joint resolution is agreed to1 the joint resolution shall remain the unfinished business of the ,senate until disposed of4 7#b7 ,in the ,senate1 debate on the joint resolution1 and on all debatable motions and appeals in connection therewith1 shall be limited to not more than #aj hours1 which shall be divided equally between those favoring and those opposing the joint resolution4 ,a motion to further limit debate is in order and not debatable4 ,an amendment to1 or a motion to postpone1 or a motion to proceed to the consideration of other business1 or a motion to recommit the joint resolution is not in order4 7#c7 ,in the ,senate1 immediately following the conclusion of the debate on a joint resolution described in subsection 7a71 and a single quorum call at the conclusion of the debate if requested in accordance with the rules of the ,senate1 the vote on final passage of the joint resolution shall occur4 7#d7 ,appeals from the decisions of the ,chair relating to the application of the rules of the ,senate to the procedure relating to a joint resolution described in subsection 7a7 shall be decided without debate4 7e7 ,in the ,senate1 the procedure specified in subsection 7c7 or 7d7 shall not apply to the consideration of a joint resolution respecting a nonmajor rule-- 7#a7 after the expiration of the #fj session days beginning with the applicable submission or publication date2 or 7#b7 if the report under section #hja7;a77#a77;,a7 was submitted during the period referred to in section #hja7;d77#a71 after the expiration of the #fj session days beginning on the #aeth session day after the succeeding session of ,congress first convenes4 7f7 ,if1 before the passage by one ,house of a joint resolution of that ,house described in subsection 7a71 that ,house receives from the other ,house a joint resolution described in subsection 7a71 then the following procedures shall apply3 7#a7 ,the joint resolution of the other ,house shall not be referred to a committee4 7#b7 ,with respect to a joint resolution described in subsection 7a7 of the ,house receiving the joint resolution-- 7,a7 the procedure in that ,house shall be the same as if no joint resolution had been received from the other ,house2 but 7,b7 the vote on final passage shall be on the joint resolution of the other ,house4 #hjd4 ,definitions ,for purposes of this chapter3 7#a7 ,the term ,federal agency means-- 7,a7 the ,board of ,governors of the ,federal ,reserve ,system2 7,b7 the ,securities and ,exchange ,commission2 7,c7 the ,commodity ,futures ,trading ,commission2 7,d7 the ,federal ,deposit ,insurance ,corporation2 7,e7 the ,bureau of ,consumer ,financial ,protection2 7,f7 the ,department of the ,treasury1 including the ,office of the ,comptroller of the ,currency and the ,financial ,crimes ,enforcement ,network2 or 7,g7 the ,national ,credit ,union ,administration4 7#b7 ,the term major rule means any rule1 including an interim final rule1 that the ,administrator of the ,office of ,information and ,regulatory ,affairs of the ,office of ,management and ,budget or the ,federal agency promulgating such rule finds has resulted in or is likely to result in-- 7,a7 an annual effect on the economy of #ajj million or more2 7,b7 a major increase in costs or prices for consumers1 individual industries1 ,federal1 ,state1 or local government agencies1 or geographic regions2 7,c7 significant adverse effects on competition1 employment1 investment1 productivity1 innovation1 or the ability of ,united ,states-based enterprises to compete with foreign-based enterprises in domestic and export markets2 or 7,d7 in an increase in mandatory vaccinations4 7#c7 ,the term nonmajor rule means any rule that is not a major rule4 7#d7 ,the term rule has the meaning given the term in section #eea1 except that the term-- 7,a7 includes interpretative rules1 general statements of policy1 and all other agency guidance documents2 and 7,b7 does not include-- 7i7 any rule of particular applicability1 including a rule that approves or prescribes for the future rates1 wages1 prices1 services1 or allowances therefore1 corporate or financial structures1 reorganizations1 mergers1 or acquisitions thereof1 or accounting practices or disclosures bearing on any of the foregoing2 7ii7 any rule relating to agency management or personnel2 or 7iii7 any rule of agency organization1 procedure1 or practice that does not substantially affect the rights or obligations of non-agency parties4 7#e7 ,the term submission or publication date1 except as otherwise provided in this chapter1 means-- 7,a7 in the case of a major rule1 the date on which the ,congress receives the report submitted under section #hja7;a77#a72 and 7,b7 in the case of a nonmajor rule1 the later of-- 7i7 the date on which the ,congress receives the report submitted under section #hja7;a77#a72 and 7ii7 the date on which the nonmajor rule is published in the ,federal ,register1 if so published4 #hje4 ,judicial review 7a7 ,in general ,no determination1 finding1 action1 or omission under this chapter shall be subject to judicial review4 7b7 ,exception ,notwithstanding subsection 7a71 a court may determine whether a ,federal agency has completed the necessary requirements under this chapter for a rule to take effect4 7c7 ,rule of construction ,the enactment of a joint resolution of approval under section #hjb shall not be interpreted to serve as a grant or modification of statutory authority by ,congress for the promulgation of a rule1 shall not extinguish or affect any claim1 whether substantive or procedural1 against any alleged defect in a rule1 and shall not form part of the record before the court in any judicial proceeding concerning a rule except for purposes of determining whether or not the rule is in effect4 #hjf4 ,exemption for monetary policy ,nothing in this chapter shall apply to rules that concern monetary policy proposed or implemented by the ,board of ,governors of the ,federal ,reserve ,system or the ,federal ,open ,market ,committee4 #hjg4 ,effective date of certain rules ,notwithstanding section #hja-- 7#a7 any rule that establishes1 modifies1 opens1 closes1 or conducts a regulatory program for a commercial1 recreational1 or subsistence activity related to hunting1 fishing1 or camping2 or 7#b7 any rule other than a major rule which an agency for good cause finds 7and incorporates the finding and a brief statement of reasons therefore in the rule issued7 that notice and public procedure thereon are impracticable1 unnecessary1 or contrary to the public interest1 shall take effect at such time as the ,federal agency promulgating the rule determines4 #hjh4 ,review of rules currently in effect 7a7 ,annual review ,beginning on the date that is #ahj days after the date of enactment of this section1 and annually thereafter for the #d years following1 each agency shall designate not less than #bj percent of eligible rules made by that agency for review and shall submit a report including each such eligible rule in the same manner as a report under section #hja7;a77#a74 ,sections #hja1 #hjb1 and #hjc shall apply to each such rule1 subject to subsection 7c7 of this section4 ,no eligible rule previously designated may be designated again4 7b7 ,sunset for eligible rules not extended ,beginning after the date that is #e years after the date of enactment of this section1 if ,congress has not enacted a joint resolution of approval for that eligible rule1 that eligible rule shall not continue in effect4 7c7 ,approval of ,rules 7#a7 ,in general ,unless ,congress approves all eligible rules designated by executive agencies for review within #ij days of designation1 they shall have no effect4 7#b7 ,formatting ,a single joint resolution of approval shall apply to all eligible rules in a report designated for a year as follows3 ,that ,congress approves the rules submitted by the for the year 4 7,the blank spaces being appropriately filled in74 7#c7 ,procedure ,a member of either ,house may move that a separate joint resolution be required for a specified rule4 7d7 ,definition ,in this section1 the term eligible rule means a rule that is in effect as of the date of enactment of this section4 4 7b7 ,technical and conforming amendment ,the chapter heading for chapter #h of title #e1 ,united ,states ,code1 is amended by inserting certain after of4 #ejc4 ,budgetary effects of rules subject to section #hjb of title #e1 ,united ,states ,code ,section #beg7;b77#b7 of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe 7#b ,u4,s4,c4 #ijg7;b77#b77 is amended by adding at the end the following new subparagraph3 7,e7 ,budgetary effects of rules subject to section #hjb of title #e1 ,united ,states ,code ,any rule subject to the congressional approval procedure set forth in section #hjb of chapter #h of title #e1 ,united ,states ,code1 affecting budget authority1 outlays1 or receipts shall be assumed to be effective unless it is not approved in accordance with such section4 4 #ejd4 ,government ,accountability ,office study of rules 7a7 ,in general ,the ,comptroller ,general of the ,united ,states shall conduct a study to determine1 as of the date of the enactment of this ,act-- 7#a7 how many rules 7as that term is defined in section #hjd of title #e1 ,united ,states ,code1 as added by this title7 were in effect2 7#b7 how many major rules 7as that term is defined in section #hjd of title #e1 ,united ,states ,code1 as added by this title7 were in effect2 and 7#c7 the total estimated economic cost imposed by all such rules4 7b7 ,report ,not later than #a year after the date of enactment of this ,act1 the ,comptroller ,general of the ,united ,states shall submit to ,congress1 and publish on the website of the ,government ,accountability ,office1 a report that contains the findings of the study conducted under subsection 7a74 ,,vi ,suspicious activity #fja4 ,criminal penalties ,the ,right to ,financial ,privacy ,act of #aigh 7#ab ,u4,s4,c4 #cdja et seq47 is amended by inserting after section #aaaf 7#ab ,u4,s4,c4 #cdaf7 the following3 #aaaf;,a4 ,criminal penalties 7a7 ,except as provided in subsection 7b71 any agency or department of the ,united ,states or financial institution knowingly obtaining or knowingly disclosing financial records or information contained therein in violation of this title shall be fined in any amount not exceeding #e1jjj1 or imprisoned not more than #e years1 or both1 together with the costs of prosecution1 and if such offense is committed by any officer or employee of the ,united ,states1 the officer or employee shall1 in addition to any other punishment1 be dismissed from office or discharged from employment upon conviction for such offense4 7b7 ,any financial institution or agent or employee thereof making a disclosure of financial records pursuant to this title in good-faith reliance upon a certificate by any ,government authority or pursuant to the provisions of section #aaac7l7 shall not be subject to prosecution under subsection 7a74 4 #fjb4 ,civil penalties ,section #aaag7;a7 of the ,right to ,financial ,privacy ,act of #aigh 7#ab ,u4,s4,c4 #cdag7;a77 is amended by striking paragraphs 7#a7 through 7#d7 and inserting the following3 7#a7 not less than #a1jjj per violation per day2 7#b7 reasonable attorney's fees and litigation costs2 and 7#c7 compensatory damages4 4 #fjc4 ,other relief ,the ,right to ,financial ,privacy ,act of #aigh 7#ab ,u4,s4,c4 #cdja et seq47 is amended by inserting after section #aaah 7#ab ,u4,s4,c4 #cdah7 the following3 #aaah;,a4 ,other relief ,in addition to any other remedy contained in this title1 a writ of mandamus and all other appropriate relief1 including any equitable or declaratory relief1 shall be available to require that the procedures of this title are complied with4 4 ,,vii ,stopping the nosy obsession with online payments #gja4 ,repeal of modification of exceptions for reporting of third party network transactions 7a7 ,in general ,section #fjej,w7e7 of the ,internal ,revenue ,code of #aihf is amended to read as follows3 7e7 ,exception for de minimis payments by third party settlement organizations ,a third party settlement organization shall be required to report any information under subsection 7a7 with respect to third party network transactions of any participating payee only if-- 7#a7 the amount which would otherwise be reported under subsection 7a77#b7 with respect to such transactions exceeds #bj1jjj1 and 7#b7 the aggregate number of such transactions exceeds #bjj4 4 7b7 ,conforming amendment ,section #fjej,w7c77#c7 of the ,internal ,revenue ,code of #aihf is amended by striking described in subsection 7d77#c77;,a77iii74 7c7 ,effective date 7#a7 ,in general ,the amendment made by subsection 7a7 shall apply to returns for calendar years beginning after ,december #ca1 #bjba4 7#b7 ,clarification ,the amendment made by subsection 7b7 shall apply to transactions after the date of the enactment of the ,american ,rescue ,plan ,act of #bjba4 ,,viii ,prohibition on restrictions relating to convertible virtual currency #hja4 ,short title ,this title may be cited as the ,keep ,your ,coins ,act4 #hjb4 ,prohibition on restricting use of convertible virtual currency by a person to purchase goods or services for the person's own use 7a7 ,in general ,no ,federal agency head may prohibit or otherwise restrict the ability of a covered user to-- 7#a7 use virtual currency or its equivalent for such user's own purposes1 such as to purchase real or virtual goods and services for the user's own use2 or 7#b7 conduct transactions through a self-hosted wallet4 7b7 ,definitions ,in this section3 7#a7 ,convertible virtual currencies ,the term convertible virtual currencies means a medium of exchange that-- 7,a7 has an equivalent value as currency 7as defined in section #ajaj4ajj of title #ca1 ,code of ,federal ,regulations 7or successor regulations772 or 7,b7 acts as a substitute for currency but may not possess all the attributes 7including legal tender status7 specified under such section #ajaj4ajj4 7#b7 ,covered user ,the term covered user means a person that obtains convertible virtual currency to purchase goods or services on that person's own behalf1 without regard to the method in which such covered user obtained such convertible virtual currency4 7#c7 ,self-hosted wallet ,the term self-hosted wallet means an interface-- 7,a7 used to secure and transfer convertible virtual currency2 and 7,b7 under which the owner of convertible virtual currency retains independent control over such convertible virtual currency that is secured by such digital interface4