Financial Reporting Threshold Modernization Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8686 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8686 To update thresholds for certain currency transaction reports and suspicious activity reports, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 11, 2024 Mr. Loudermilk (for himself, Mr. Meuser, and Mr. Donalds) introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To update thresholds for certain currency transaction reports and suspicious activity reports, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Financial Reporting Threshold Modernization Act''. SEC. 2. UPDATING THRESHOLDS FOR CERTAIN CURRENCY TRANSACTION REPORTS AND SUSPICIOUS ACTIVITY REPORTS. (a) Thresholds for Certain Currency Transaction Reports.-- (1) Currency transaction reports.--The Secretary of the Treasury shall-…