Raises the dollar thresholds that trigger Treasury currency transaction reports and suspicious activity reports, and requires periodic inflation adjustments to those thresholds.

• Directs the Treasury Secretary to raise the $10,000 currency transaction report threshold to $30,000 within 180 days, including the related threshold for coins and currency received in nonfinancial trades or businesses.
• Raises suspicious activity report thresholds from $5,000 to $10,000 and from $2,000 to $3,000 for agencies that issue those regulations, also within 180 days.
• Raises the money services business definition threshold in federal regulations from $1,000 to $3,000 within 180 days.
• Requires updates to all these thresholds every 5 years based on the Consumer Price Index, rounded to the nearest $500, and requires a Treasury review of reporting forms due within 360 days.
• Changes the look-back period in Section 5336(c)(11)(A) of title 31, United States Code, for testimony by the FinCEN Director from 5 years to 10 years.

• Financial Services Committee (House)

Finance and Financial Sector