Saving Privacy Act

HR 2155, the "Saving Privacy Act," strengthens financial privacy protections by requiring government agencies to obtain search warrants before accessing financial records, repealing certain reporting requirements for payment networks, and prohibiting the creation of a central bank digital currency. The bill directly affects financial institutions, government agencies, and individuals by limiting how government can access financial data and restricting how agencies can handle digital currency. Key provisions include terminating the Consolidated Audit Trail within 30 days, requiring congressional approval for major agency regulations, and protecting the use of virtual currency for personal purchases. The bill also establishes new criminal penalties for unauthorized access to financial records and increases the threshold for reporting third-party payment transactions.