This bill directs the Financial Crimes Enforcement Network (FinCEN) to gather information from banks and financial institutions about how domestic terrorists and violent extremists buy firearms and firearm accessories, with the goal of identifying suspicious financial patterns. Within one year of the bill's enactment, FinCEN must request this information from financial institutions, consulting first with the FBI, the Bureau of Alcohol, Tobacco, Firearms and Explosives, and firearms sellers to ensure the requests are practical and appropriately sized to each institution. Within 18 months, FinCEN must either issue an advisory to help financial institutions spot and report suspicious activity related to firearms purchases, or submit a report to Congress explaining why insufficient information was collected and what barriers prevented gathering the needed data. The bill also requires FinCEN to define key terms like "firearm accessory," "homegrown violent extremist," and "lone actor" within 90 days.
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