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Spending Bill Excludes $2.5M for FinCEN Cross-Border Funds Transfer Database
By Matt Squire
printA federal spending bill approved by the House Appropriations Committee excludes a requested $2.5 million to build a cross-border funds transfer data collection system for the Treasury Department's Financial Crime Enforcement Network (FinCEN). The committee, which approved the bill on June 11, noted in a report to the full House that the funds were excluded because the Treasury Department hasn't decided whether to build the database and hasn't completed a planned cost-benefit analysis of the project. The full House is tentatively scheduled to vote on the measure by Wednesday, an Appropriations Committee spokesman said. "The decision on implementation [of the...
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