Bill Sponsor
BILLSPONSOR
Bill Sponsor
Politicians
Bills
House Bill 3898
115th Congress(2017-2018)
Otto Warmbier North Korea Nuclear Sanctions Act
Active
Active
Passed House on Oct 24, 2017
Overview
Text
Sponsor
Republican
Introduced
Oct 2, 2017
Latest Action
Oct 25, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
3898
Congress
115
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Republican
Andy Barr
Kentucky
Democrat
Kyrsten Sinema
Arizona
Republican
French Hill
Arkansas
Democrat
Brad Sherman
California
Democrat
Juan Vargas
California
Democrat
Ed Perlmutter
Colorado
Republican
Luke Messer
Indiana
Republican
Trey Hollingsworth
Indiana
Republican
Bruce Poliquin
Maine
Democrat
John Delaney
Maryland
Democrat
Josh Gottheimer
New Jersey
Democrat
Carolyn B. Maloney
New York
Republican
Robert Pittenger
North Carolina
Republican
Warren Davidson
Ohio
Republican
Keith Rothfus
Pennsylvania
Republican
Roger Williams
Texas
Republican
Mia Love
Utah
Democrat
Denny Heck
Washington
Democrat
Gwen Moore
Wisconsin
House Votes (1)
Senate Votes (0)
checkPassed on October 24, 2017
Question
On Motion to Suspend the Rules and Pass, as Amended
Status
Passed
Type
Roll Call Vote
Roll Call Vote
A vote that records the individual position of each Member who voted. Such votes occurring on the House floor (by the "yeas and nays" or by "recorded vote") are taken by electronic device. The Senate has no electronic voting system; in such votes, Senators answer "yea" or "nay" as the clerk calls each name aloud. Each vote is compiled by clerks and receives a roll call number (referenced in Congress.gov as a "Record Vote" [Senate] or "Roll no." [House]).
Roll Call Type
2/3 Yea-And-Nay
Roll Number
581
House Roll Call Votes
Summary

Impeding North Korea's Access to Finance Act of 2017

This bill directs the Department of the Treasury to prohibit a foreign financial institution that knowingly provides significant financial services to a "covered person" from opening or maintaining a correspondent account in the United States. "Covered person" includes any person doing business with North Korea, a North Korean person employed outside North Korea, and any person that knowingly employs a North Korean person outside North Korea. The bill establishes civil and criminal penalties for violations.

Treasury must prohibit a U.S.-based financial institution from knowingly engaging in a significant transaction with a covered person. The bill establishes civil penalties for violations.

The bill amends the Bretton Woods Agreements Act to direct the United States to oppose international financial assistance for a foreign government that does not implement these sanctions against North Korea. The President may waive this directive after specified steps are taken.

The bill amends the Export-Import Bank Act to prohibit the bank from providing support to a covered person.

Treasury must report on compliance with this bill among financial institutions, including any penalties imposed and efforts by Treasury to support compliance.

The bill amends the International Financial Institutions Act to require Treasury to: (1) instruct the U.S. Executive Director at the International Monetary Fund (IMF) to support the use of the IMF's administrative budget for technical assistance that strengthens the capacity of IMF members to prevent money laundering and the financing of terrorism, and (2) report on the effectiveness of such assistance.

The President may suspend or terminate sanctions under this bill if certain steps regarding nonproliferation of weapons of mass destruction are taken by North Korea.

Text (4)
Referred in Senate
October 25, 2017
Engrossed in House
October 24, 2017
Reported in House
October 23, 2017
Introduced in House
October 2, 2017
Actions (18)
10/25/2017
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
10/24/2017
The title of the measure was amended. Agreed to without objection.
10/24/2017
Motion to reconsider laid on the table Agreed to without objection.
10/24/2017
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 2 (Roll no. 581). (text: CR H8099-8100)
10/24/2017
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 2 (Roll no. 581).(text: CR H8099-8100)
10/24/2017
Considered as unfinished business. (consideration: CR H8129-8130)
10/24/2017
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
10/24/2017
DEBATE - The House proceeded with forty minutes of debate on H.R. 3898.
10/24/2017
Considered under suspension of the rules. (consideration: CR H8099-8104)
10/24/2017
Mr. Barr moved to suspend the rules and pass the bill, as amended.
10/23/2017
Placed on the Union Calendar, Calendar No. 265.
10/23/2017
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-361.
10/12/2017
Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.
10/12/2017
Committee Consideration and Mark-up Session Held.
10/11/2017
Committee Consideration and Mark-up Session Held.
10/02/2017
Referred to the House Committee on Financial Services.
10/02/2017
Introduced in House
09/13/2017
Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Introduction and Referral.
Public Record
Record Updated
Jan 11, 2023 1:38:31 PM
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