H.R. 4986: End Operation Choke Point Act of 2014

113th Congress · introduced 2014-06-26 · Finance and Financial Sector · Latest: Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.

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Follow this bill, step by step

Where it came from: introduced 2014-06-26 · official record
Who proposed it: Rep. Luetkemeyer, Blaine [R-MO-3] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

End Operation Choke Point Act of 2014

Plain summary

End Operation Choke Point Act of 2014 - Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to prohibit the federal banking agencies from prohibiting, restricting, or discouraging an insured depository institution or insured credit union from providing any product or service to an entity that demonstrates that it is: (1) licensed and authorized to offer such product or service, (2) registered as a money transmitting business under federal law or regulations, or (3) has a reasoned legal opinion that demonstrates the legality of the entity's business under applicable law. Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) to repeal the Attorney General's subpoena authority to summon witnesses and require the production of books, papers, correspondence, memoranda, or other records relevant or material to an inquiry. Authorizes the Attorney General instead to request a court order from a court of competent jurisdiction to summon witnesses and require the production of relevant or material records. Permits issuance of such a court order, however, only if the Attorney General offers specific and articulable facts showing that there are reasonable grounds to believe that the information or testimony sought is relevant and material to an ongoing civil proceeding. Repeals the declaration that, in the case of a subpoena for which the return date is less than five days after the date of service, no person shall be found in contempt for failure to comply by the return date if he or she files a petition within those five days. Amends the USA PATRIOT Act, regarding cooperative efforts among financial institutions, regulatory authorities and law enforcement authorities to deter money laundering, to authorize regulations for procedures for information sharing that focuses upon facilitating the identification of accounts and transactions that involve committing financial fraud. Prohibits the use of information received by a financial institution: (1) for any purpose other than identifying and reporting activities that may involve financial fraud (or terrorist acts or money laundering, as under current law); and (2) to require financial institutions to determine or assure compliance of any entity with federal, state, or other licensing requirements. Revises the non-liability of financial institutions for making certain voluntary disclosures to a government agency to extend such protection to any underlying activity that is the subject of a disclosure. Makes it the duty of the Director of the Financial Crimes Enforcement Network (FinCEN) to analyze and disseminate available data to generate feedback and report on the utility of a certain data access service and the information collected by it to improve cooperation among data providers and users while reducing regulatory burden and preserving payment system efficiency. Directs the Secretary of the Treasury to establish operating procedures for the government-wide data access service and FinCEN's financial crimes communications center which provide for: (1) appropriate metrics to monitor, track, assess, and report on access to information contained in the FinCEN data maintenance system for identifying, tracking, and measuring how such information is used and the consequent law enforcement results; and (2) assured accountability by law enforcement agencies for the utility, security, and privacy of such information while reducing unnecessary regulatory burdens.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

End Operation Choke Point Act of 2014

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Luetkemeyer, Blaine [R-MO-3] · 14 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Pete Sessions (R-TX), Andy Barr (R-KY)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (5)

Appropriation: Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
Authorization: A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
Jurisdiction: The area or the matters a government or court has authority over.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113hr4986.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>

Record fed-us-cong113-hr4986 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113