CTR Modernization Act

[AI summary unavailable — showing source text] CTR Modernization Act - Amends federal law governing mandatory reports on currency transactions to exempt depository institutions from the requirement that all domestic financial institutions file a report on every domestic coin and currency transaction. Requires such a depository institution to file a currency transaction report, however, if the transaction involves at least $30,000. Prohibits the Secretary of the Treasury after a certain date from requiring a depository institution to file a currency transaction report regarding a transaction of less than $30,000. Directs the Secretary to: (1) review at least every five years the threshold for reporting currency transactions; and (2) adjust the threshold amount for inflation. Directs the Secretary to prescribe regulations that exempt any depository institution from reporting a currency transaction with a qualified customer. Defines qualified customer as any person that: (1) is incorporated or organized under federal or state law, or registered and eligible to do business within the United States or a state; (2) has maintained a deposit account with the depository institution for at least 12 months; and (3) has engaged, using such…