S 2157119th CongressIn Committee

Gun Violence Prevention Through Financial Intelligence Act

Introduced: Jun 24, 2025

Civil Rights & JusticeFinancial Services

Standard Summary

Comprehensive overview in 1-2 paragraphs

The Gun Violence Prevention Through Financial Intelligence Act would require the Financial Crimes Enforcement Network (FinCEN) to develop and issue an advisory for financial institutions about identifying and reporting suspicious activity related to how homegrown violent extremists and other domestic terrorists obtain firearms and firearm accessories. The bill also directs FinCEN to gather information from financial institutions, consult with the FBI, the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), and firearm sellers, and then publish the advisory within a specified timeline. If the information gathered is insufficient, FinCEN must explain why and report back to Congress. Additionally, the bill directs FinCEN to promulgate a rule within 90 days that defines several key terms for purposes of the act (firearm accessory, homegrown violent extremist, lone wolf, lone actor). In short, the bill aims to bolster financial intelligence and reporting related to the financing and procurement pathways used by domestic extremists to obtain firearms, potentially helping financial institutions identify red flags and support law enforcement efforts.

Key Points

1FinCEN must issue an advisory within about 18 months (540 days) describing how homegrown violent extremists and other domestic terrorists procure firearms and how the U.S. firearms market is exploited for gun violence, based on information collected from financial institutions.
2FinCEN will request information from financial institutions within 1 year of enactment, using the framework of existing suspicious-activity reporting (SAR) rules, and must tailor requests to the size of the institution.
3The information request must be conducted after consulting with the FBI, ATF, and firearm/s explicitly sellers to inform the advisory.
4If information is sufficient, FinCEN must publish the advisory; if not, FinCEN must provide a detailed report to Congress explaining data type, methodology, response rate from institutions, and barriers.
5A rulemaking process will define four key terms (firearm accessory, homegrown violent extremist, lone wolf, lone actor) within 90 days of enactment, to standardize the scope of the advisory and related activities.

Impact Areas

Primary group/area affected: Financial institutions (banks, credit unions, and other entities regulated under 31 U.S.C. 5312(a) and 31 U.S.C. 5318(g) with SAR authority) and their compliance staff, who would be involved in gathering information and implementing the advisory’s guidance.Secondary group/area affected: Law enforcement and regulatory agencies (FBI, ATF) through heightened collaboration and access to financial intelligence related to firearms procurement by extremists; firearm and firearm accessories sellers who are consulted in the advisory development.Additional impacts: The initiative could influence how financial institutions screen and report transactions linked to firearm purchases and may affect how the firearms market is monitored for illicit activity. It may raise considerations around privacy and civil liberties, as it expands financial surveillance related to domestic terrorism concerns, though the bill frames this within existing SAR reporting mechanisms.

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