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119-s-3017119th CongressWALLET

STREAMLINE Act

Sponsored By: Senator Kennedy, John [R-LA]

Introduced

Summary

This bill would raise and index key anti‑money‑laundering reporting thresholds to reduce outdated reporting triggers and require a Treasury review to modernize forms and automation. It focuses on lifting dollar gates, adding automatic inflation adjustments, and forcing a coordinated review of reporting and recordkeeping rules.

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  • Banks and other financial reporters would see Currency Transaction Report thresholds that are currently $10,000 go to $30,000 within 180 days, and Suspicious Activity Report thresholds directed by federal agencies would be raised from $2,000 to $3,000 and from $5,000 to $10,000. These changes cut low‑value reporting triggers.
  • Businesses that receive coins or currency in nonfinancial trades would have the $10,000 reporting threshold raised to $30,000 and tied to CPI‑U inflation adjustments every 5 years, rounded to the nearest $1,000, with changes taking effect the following January 1.
  • The Treasury would have 360 days to review and report on reporting forms, aggregation rules, prioritization, and automation, and to recommend updates. The bill preserves Treasury authority over geographic targeting orders and allowed threshold reductions.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 0 costs, 1 mixed.

Higher cash and suspicious-activity thresholds

This bill would raise the currency-transaction reporting rule from $10,000 to $30,000. The Treasury would update related regulations within 180 days. Agencies would raise certain suspicious-activity thresholds: $2,000 rules to $3,000, and $5,000 rules to $10,000, within 180 days. Every 5 years Treasury would adjust dollar figures for inflation using the CPI‑U, rounded to the nearest $1,000. Each inflation change would take effect on the first January 1 after publication.

Treasury review and enforcement powers

This bill would require the Treasury Secretary to review AML reporting forms and recordkeeping within 360 days. The review would examine aggregation, prioritization, and automation and may lead to updated forms and rules. Treasury must coordinate with existing Anti‑Money Laundering Act reviews and send a final report with recommendations to two congressional committees. The bill would also say it does not limit Treasury's ability to issue geographic targeting orders or to lower reporting thresholds when the law allows.

Sponsors & CoSponsors

Sponsor

Kennedy, John [R-LA]

LA • R

Cosponsors

  • Sen. Scott, Tim [R-SC]

    SC • R

    Sponsored 10/20/2025

  • Sen. Rounds, Mike [R-SD]

    SD • R

    Sponsored 10/20/2025

  • Sen. Britt, Katie Boyd [R-AL]

    AL • R

    Sponsored 10/20/2025

  • Sen. Lummis, Cynthia M. [R-WY]

    WY • R

    Sponsored 10/20/2025

  • Sen. Hagerty, Bill [R-TN]

    TN • R

    Sponsored 10/20/2025

  • Sen. Crapo, Mike [R-ID]

    ID • R

    Sponsored 10/20/2025

  • Sen. Moreno, Bernie [R-OH]

    OH • R

    Sponsored 10/20/2025

  • Sen. Ricketts, Pete [R-NE]

    NE • R

    Sponsored 10/20/2025

Roll Call Votes

No roll call votes available for this bill.

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