Bill would sanction financial institutions handling ISIS transactions

Rep. Mike Fitzpatrick (R-Pa.) has introduced legislation that would impose sanctions on financial institutions engaging in transactions with Sunni militant group Islamic State of Iraq and Syria (ISIS).

Fitzpatrick argued his bill would help limit the terrorist group’s funding and ultimately hinder its activities.

{mosads}”ISIS is a unique terror organization in that it is able to self finance at an extremely high level – giving itself the resources and influence to expand its reign of hate and oppression,” Fitzpatrick said. “By attacking the group’s funding we can slow its growth, limit the reach of its recruiting efforts and push back against the twisted world-view it promotes.”

Under Fitzpatrick’s proposal, any foreign financial institutions working with ISIS would be blocked from the U.S. banking system.

A multitude of bills regarding ISIS have been introduced in the last few days since Congress returned to Washington from the August recess. Earlier this week, Reps. Michele Bachmann (R-Minn.) and Ted Poe (R-Texas) introduced bills that would revoke passports for people involved with ISIS.