Search Results: keywords:"currency transaction reports"

  • H. R. 8686 — To update thresholds for certain currency transaction reports and suspicious activity reports, and for other purposes.
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    Status:Introduced in House
    Words:539

    H. R. 8686, known as the "Financial Reporting Threshold Modernization Act," aims to update the monetary thresholds for certain financial reporting requirements related to currency transactions and suspicious activities. It proposes increasing the threshold for currency transaction reports...

    Simple Explanation

    The "Financial Reporting Threshold Modernization Act" is a plan to make banks report only very big money transactions, raising the limit they need to report. It adjusts these limits every year so they keep up with changing money value, but some people worry it might make it easier for bad guys to hide money.

  • H. R. 1799 — To update thresholds for certain currency transaction reports and suspicious activity reports, and for other purposes.
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    Status:Introduced in House
    Words:552

    H. R. 1799, also known as the "Financial Reporting Threshold Modernization Act," aims to update the financial thresholds for certain currency and suspicious activity reports in the United States. The bill proposes to increase the threshold for currency transaction reports from $10,000 to...

    Simple Explanation

    The Financial Reporting Threshold Modernization Act wants to change how much money people have to report when they move it around. It suggests making the report rules less strict by raising the amount of money that needs to be reported, like changing it from $10,000 to $30,000, so fewer small money movements get noticed.