Bill would triple cash reporting thresholds for banks and businesses
Placed on the calendarH.R. 1799Latest action
Sponsor: Barry Loudermilk · Representative · GA
AIDecoded by AI · checked against the recordRead the official text
Official title: Financial Reporting Threshold Modernization Act
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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HR 1799 would raise the $10,000 currency transaction report threshold to $30,000, with future inflation adjustments.
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What does this do?
This bill raises several dollar thresholds under anti-money-laundering law, including the currency transaction report limit from $10,000 to $30,000, with adjustments every five years for inflation. It also raises the cash-payment reporting threshold for non-financial businesses from $10,000 to $30,000, raises suspicious activity report triggers from $5,000 to $10,000 and from $2,000 to $3,000, and raises the money services business definition threshold from $1,000 to $3,000.
Who does it affect?
Banks, credit unions, money-transfer businesses, non-financial businesses that accept large cash payments (like car dealers), and regulators and law enforcement who use these reports.
Why does it matter?
Raising the thresholds means fewer transactions would automatically trigger reporting to the government, changing how regulators and law enforcement monitor financial activity for money laundering or fraud.
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Read the official bill on Congress.govMake the call
Where does it stand?
- IntroducedMar 3, 2025
- House committee
- House voteYou are here · Mar 19, 2026
- Senate
- The president's desk
Right now: it was placed on the , and the official record shows no floor action on it since. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Placed on the Union Calendar, Calendar No. 478.