House passes resolution opposing federal banking reporting rule and delays UI rate increases

The Utah House unanimously approved a concurrent resolution (HCR 201) urging Congress and the president to oppose a proposed federal rule that would require financial institutions to report account transaction data for accounts with aggregate annual transactions in a specified range. The resolution passed by voice/record 73 yes, 0 no and will be transmitted to the Senate.

The sponsor of the resolution described the rule as an intrusion into private financial data and framed it as a Fourth Amendment concern. He summarized the proposal as requiring institutions to provide transaction details for accounts with aggregated annual transactions ranging from $600 to $10,000, and said proponents estimate it could generate about $250 billion in additional federal revenue if implemented.

Representative Collard, speaking in support, said that as a former credit-union employee he viewed the proposal as overreach into individuals’ personal finances.

Separately, the House considered HB 2002, described by Representative Lisonbee as a response to the scheduled sunset of prior pandemic-era unemployment insurance legislation. The bill phases and moderates rate increases so that they do not spike in 2024, instead smoothing changes across 2022–2024. Representative Lisonbee waived summation, and the House passed HB 2002 by voice/record 73 yes, 0 no; the bill will be transmitted to the Senate.

Both measures represent near-term floor work the House completed before adjourning; further committee or Senate action is expected for each measure.