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Higher Thresholds for Financial Transactions and Suspicious Activity Reporting

This new law raises the amounts at which banks and businesses must report cash transactions and suspicious activities. This means fewer everyday transactions will be automatically reported, potentially impacting citizens' financial privacy. These thresholds will also be regularly updated for inflation.
Key points
The limit for reporting large cash transactions will increase from $10,000 to $30,000.
Thresholds for reporting suspicious transactions will be raised from $5,000 to $10,000 and from $2,000 to $3,000.
Thresholds for money service businesses (e.g., currency exchanges) will increase from $1,000 to $3,000.
All these thresholds will be automatically adjusted for inflation every 5 years to maintain their real value.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1799
Sponsor: Rep. Loudermilk, Barry [R-GA-11]
Process start date: 2025-03-03
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Financial Reporting Threshold Modernization Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_1799.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-03-03.

What are the main provisions?

Key points include:

  • The limit for reporting large cash transactions will increase from $10,000 to $30,000.
  • Thresholds for reporting suspicious transactions will be raised from $5,000 to $10,000 and from $2,000 to $3,000.
  • Thresholds for money service businesses (e.g., currency exchanges) will increase from $1,000 to $3,000.
  • All these thresholds will be automatically adjusted for inflation every 5 years to maintain their real value.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Loudermilk, Barry [R-GA-11].

What is the latest detailed status?

The latest detailed status is: Ordered to be Reported (Amended) by the Yeas and Nays: 30 - 24.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Economy Courts and Law