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Standard Summary
Comprehensive overview in 1-2 paragraphs
H.R. 2155, the Saving Privacy Act, amends the Right to Financial Privacy Act to strengthen confidentiality of financial records, introduces new criminal and civil penalties, establishes a consolidated audit trail, and restricts the use of convertible virtual currency, among other privacy‑related reforms.
Key Points
- 1Amends RFPPA to require search warrants for access to financial records.
- 2Introduces criminal penalties up to $5,000 and 5 years imprisonment.
- 3Creates a consolidated audit trail and mandates its termination.
- 4Prohibits federal agencies from issuing central bank digital currency to individuals.
- 5Repeals certain third‑party network transaction reporting requirements.
Impact Areas
Financial institutions and their customersFederal agencies handling financial dataRegulators and oversight bodiesConsumers using virtual currency
Generated by openai/gpt-oss-20b:free on Nov 20, 2025