NDBA - North Dakota Bankers Association
10/29/2025 | Press release | Distributed by Public on 10/29/2025 08:53
Senators Propose Raising BSA Reporting Thresholds
A proposed Senate bill would raise the reporting thresholds for currency transaction reports and suspicious activity reports and require the Treasury Department to adjust the amounts for inflation every five years. The Bank Secrecy Act requires financial institutions to file CTRs and SARs for transactions exceeding certain dollar amounts. The Streamline Act introduced by Senate Banking Committee Chairman Tim Scott (R-S.C.), Sen. John Kennedy (R-La.) and seven senators would raise the CTR reporting threshold from $10,000 to $30,000, and raise certain SAR thresholds from $2,000 to $3,000 and from $5,000 to $10,000. To read more, visit: https://www.banking.senate.gov/newsroom/majority/chairman-scott-senator-kennedy-introduce-bill-to-modernize-the-bank-secrecy-act
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