Sponsors (2)
The bill centralizes Secret Service protective and many financial-crime functions in the FBI to improve coordination and legal clarity and preserve continuity for employees and orders, but it risks operational disruption, increased FBI workload and taxpayer costs, reduced agency transparency and local specialization, and heightened civil‑liberties and oversight concerns.
Banks, victims of financial crime, and federal prosecutors: the FBI will hold centralized authority for many counterfeit, forgery, securities, and major financial-fraud investigations, which should improve coordination, reduce duplicate effort, and strengthen case outcomes across jurisdictions.
Federal employees and contractors affected by the transfer: employees performing transferred Secret Service functions keep existing employment terms and pending actions (orders, licenses, grants, contracts) continue, avoiding sudden job, pay, or benefit disruptions during the transition.
Individuals, state and local governments, and contractors: statutory and regulatory references to transferred Secret Service functions will be re-pointed to the FBI (or receiving component), reducing long-term legal uncertainty and helping the public interact with clear authorities.
Secret Service personnel and operations: the Secret Service will lose investigative and statutory responsibilities, risking disruption to ongoing cases and requiring costly transfers of personnel, records, and assets to the FBI.
Taxpayers and the FBI: the FBI must absorb major new protective and investigative duties, increasing administrative burdens and workload that could strain FBI resources and divert attention from existing priorities.
Consumers, banks, and local investigators: shifting authority to a single federal bureau may reduce local specialization and competition among agencies, potentially slowing responses to certain frauds that affect banks and consumers.
Based on analysis of 7 sections of legislative text.
Transfers specified Secret Service investigative functions (counterfeiting, certain frauds, and coin/securities offenses) to the FBI and establishes transition rules, asset/personnel transfers, and legal-mapping provisions.
Introduced January 3, 2025 by Andrew S. Biggs · Last progress January 3, 2025
Shifts specified criminal-investigation responsibilities now performed by the U.S. Secret Service to the Federal Bureau of Investigation (FBI). It moves investigations of certain counterfeiting, forgery, coin/obligation/securities offenses and certain electronic-fund-transfer/access-device and bank-related frauds to the FBI, transfers related assets and personnel, and sets rules for the transition. The law requires agencies to assist the FBI during the transition, preserves ongoing and completed actions, directs the Office of Management and Budget to handle incidental dispositions, allows legal references to map to the FBI after transfer, and generally takes effect 30 days after enactment (with some transition actions allowed immediately).