Sponsors (21)
The bill strengthens oversight, accountability, and legal limits on certain intelligence queries and preserves Congress's control while blocking a Fed retail CBDC—trading expanded oversight and legislative authority for an extended Section 702 sunset, operational burdens, potential deterrence of time-sensitive intelligence queries, and foregone CBDC-related economic opportunities.
Federal employees, taxpayers, and people subject to surveillance will see stronger independent oversight and accountability over FBI U.S.-person queries through monthly ODNI Civil Liberties reviews, IC Inspector General investigations, GAO audit authority, and new criminal penalties for knowing violations.
U.S. persons (including residents and citizens) will have clearer Fourth Amendment protections because the bill expressly prohibits intentional targeting of U.S. persons under Section 702 and funnels such matters toward Title I/III warrant processes.
Households and businesses (especially middle-class families and small businesses) will retain current cash-based privacy protections because the Federal Reserve is barred from issuing a widely available retail CBDC that would be a Fed liability.
All Americans whose communications could be collected will have Section 702 authorities extended to 2029, prolonging statutory authority that critics say enables warrantless surveillance.
FBI agents and other intelligence personnel may be deterred from making lawful, time-sensitive U.S.-person queries out of fear of criminal prosecution under the new penalties, potentially degrading intelligence responsiveness.
Consumers—particularly low-income individuals who might benefit from faster or cheaper digital payments—may miss potential benefits (faster settlement, lower transaction costs, increased inclusion) if a Fed retail CBDC is prohibited.
Based on analysis of 2 sections of legislative text.
Adds monthly CLPO review and IC IG referral for FBI Section 702 U.S.-person queries with new criminal penalties, and bars the Federal Reserve from issuing or testing a retail CBDC.
Requires the Office of the Director of National Intelligence (ODNI) Civil Liberties Protection Officer (CLPO) to receive monthly written statements about each U.S.-person query of Section 702-acquired data made by the FBI, to review those statements for compliance with targeting and minimization rules, and to refer any potentially noncompliant or abusive queries to the Inspector General of the Intelligence Community (IC IG). It also creates new criminal offenses and higher penalties for FBI personnel who knowingly violate U.S.-person querying rules or who falsify statements about compliance. Bans the Federal Reserve Board and Federal Reserve banks from offering, maintaining, testing, studying, developing, creating, or implementing a central bank digital currency (CBDC) or a substantially similar dollar-denominated digital asset directly or indirectly to individuals; defines CBDC as a Fed-issued digital liability widely available to the public; preserves an exception for private, open, permissionless dollar-denominated digital currencies that protect the privacy of coin-like cash; and includes a nonbinding statement that the Fed lacks authority to issue a CBDC without Congress granting that power.
Introduced April 7, 2025 by Jerry Moran · Last progress April 29, 2026