Streamlining Transaction Reporting and Ensuring Anti-Money Laundering Improvements for a New Era Act; STREAMLINE Act
Summary
The STREAMLINE Act aims to update threshold amounts for currency transaction reports (CTRs) and suspicious activity reports (SARs). It mandates the Secretary of the Treasury to adjust CTR thresholds from $10,000 to $30,000 and SAR thresholds from $2,000 to $3,000 and $5,000 to $10,000. The Act also requires periodic inflation adjustments to these thresholds.
Furthermore, it directs the Secretary to review and update reporting requirements to ensure effectiveness in identifying illicit finance activity. The bill includes a rule of construction clarifying that it does not alter the Treasury's ability to issue geographic targeting orders or reduce reporting thresholds.
The bill is sponsored by Senators Kennedy, Scott, Rounds, Britt, Lummis, Hagerty, Crapo, Moreno, and Ricketts and was introduced on October 20, 2025.
Expected Effects
The STREAMLINE Act will reduce the number of currency transaction reports filed by financial institutions. This will free up resources for law enforcement to focus on more significant cases of financial crime. The periodic inflation adjustments will ensure that the thresholds remain relevant over time.
The review of reporting requirements will lead to more efficient and effective methods for identifying illicit finance activity. The Act aims to balance the need to combat money laundering with the desire to reduce regulatory burdens on businesses.
Potential Benefits
- Reduces the burden of filing currency transaction reports for financial institutions.
- Allows law enforcement to focus on more significant financial crimes.
- Ensures that reporting thresholds remain relevant over time through inflation adjustments.
- Promotes more efficient and effective methods for identifying illicit finance activity.
- May reduce compliance costs for businesses.
Most Benefited Areas:
Potential Disadvantages
- Could potentially make it easier to launder money by increasing the threshold for reporting.
- May require additional resources for the Treasury Department to implement the changes and conduct reviews.
- The increased thresholds may lead to a decrease in the amount of information available to law enforcement.
- There is a risk that the inflation adjustments may not keep pace with actual inflation, eroding the effectiveness of the thresholds over time.
- The changes could create confusion for financial institutions and require them to update their compliance programs.
Constitutional Alignment
The STREAMLINE Act appears to align with the US Constitution, particularly Article I, Section 8, which grants Congress the power to regulate commerce and coin money. The Act's provisions related to currency transaction reports and anti-money laundering measures fall under this power.
There are no apparent violations of individual rights or liberties protected by the Bill of Rights. The Act does not infringe upon freedom of speech, religion, or any other constitutionally protected right. The Act aims to improve the efficiency and effectiveness of financial regulations, which is a legitimate government interest.
However, the Act's impact on individual privacy should be considered. While the Act does not directly authorize surveillance, the reporting requirements could potentially lead to the collection of personal financial information. Congress must ensure that appropriate safeguards are in place to protect this information and prevent abuse.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).