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House Panel to Review FinCEN Coordination Efforts, 22% Budget Increase
By Matt Squire
printThe House Financial Services Committee will consider a proposed 22 percent budget increase for the Treasury Department's Financial Crimes Enforcement Network (FinCEN) next month and will review the agency's efforts to coordinate with foreign financial intelligence units. The committee plans to hold a hearing in July to consider a bill that would authorize FinCEN's proposed $85.8 million budget for fiscal 2008, a spokesman for committee chairman Barney Frank said Friday. The bill, cosponsored by Rep. Stephen Lynch, would also authorize FinCEN funding for fiscal 2009 through 2012. The bill authorizes a proposed budget released by the Bush administration in February....
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