This bill would require the Director of the Financial Crimes Enforcement Network (FinCEN), a Treasury Department agency that combats money laundering and financial crimes, to be appointed by the President and confirmed by the Senate instead of being appointed directly by the Treasury Secretary as currently allowed. The change would make the FinCEN director a Senate-confirmed position, bringing it in line with other senior government officials and increasing congressional oversight of the agency. The bill also establishes a specific salary level for the director, set at the same rate as other executive branch officials at level IV of the Executive Schedule. The current FinCEN director would be allowed to remain in office until a Senate-confirmed replacement is appointed, providing a smooth transition under the new process. The bill was introduced in July 2023 and referred to the Senate Banking Committee but did not advance further in the congressional session.