CCP Fentanyl Sanctions Act

Summary

This introduced bill would authorize the President to block assets and impose sanctions on foreign persons, including PRC entities, tied to the production or distribution of illicit synthetic narcotics, and would let Treasury restrict correspondent accounts of foreign financial institutions facilitating such transactions. It codifies Executive Order 14059 but imposes no direct requirements on mortgage lenders, brokers, or servicers. Compliance professionals should be aware of potential OFAC implications for any U.S. financial institution maintaining foreign correspondent relationships.