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H.R. 3898: Impeding North Korea’s Access to Finance Act of 2017

This was a vote to pass H.R. 3898 in the House. This vote was taken under a House procedure called “suspension of the rules” which is typically used to pass non-controversial bills. Votes under suspension require a 2/3rds majority. A failed vote under suspension can be taken again.

H.R. 3898 imposes secondary sanctions with respect to North Korea in order to cut off Pyongyang’s ability to finance its weapons programs. Specifically the bill would: (1) require the Secretary of the Treasury to prohibit, or impose strict conditions on, correspondent or payable-through accounts held in the U.S. by foreign financial institutions that knowingly deal with a “covered person”; (2) prohibit U.S. financial institutions, and persons owned or controlled by such institutions, from knowingly engaging in transaction benefitting covered persons; (3) require the U.S. to oppose loans by the international financial institutions (i.e. IMF and multilateral development banks) for countries that knowingly fail to prevent the provision of financial services to certain covered persons, as well as deny Export-Import Bank assistance for exports to covered persons; (4) require regular Treasury updates on sanctions implementation and the Department’s efforts to strengthen the capacity of financial institutions and foreign governments to prevent financing for covered persons; and (5) strengthen IMF technical assistance to improve countries’ efforts in anti-money laundering and combatting the financing of terrorism (AML/CFT).

“Covered persons” includes any individual or entity that (1) has been sanctioned under a North Korea-related Executive Order; (2) facilitates trade in goods, services, or technology with North Korea; (3) is a North Korean laborer abroad, or employer of the laborer; or (4) may otherwise abet Pyongyang’s weapons and hacking programs, including through investment in North Korea or the provision of specialized training, information, or other material or technological support.

Source: Republican Policy Committee


Congress
115th Congress
Date
Oct 24, 2017
Chamber
House
Number
#581
Question:
On Motion to Suspend the Rules and Pass, as Amended in the House
Result:
Passed

What you can do

Key: R Yea D Yea R Nay
Seat position based on our ideology score.
This is a cartogram. Each hexagon represents one congressional district.
Totals     Republican     Democrat
  Yea 415
 
 
96%
228 187
  Nay 2
 
 
0%
2 0
Not Voting 15
 
 
3%
8 7
Required: 2/3 source: house.gov

Vote Details

Notes: The Speaker’s Vote? “Aye” or “Yea”?
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