PlainBillCongress, translated.Legislation. Context. Public interest.Placed on the Union Calendar, Calendar No. 478.
Congressional Research Service
Version 07 · Reported to House · Mar 19, 2026
Financial Reporting Threshold Modernization Act
This bill increases the threshold amounts for certain reporting by financial institutions, adjusts these amounts periodically for inflation, and requires a review of specified financial forms and reporting requirements.
The bill increases the threshold dollar amounts above which financial institutions are required to file currency-transaction and suspicious-activity reports with the Financial Crimes Enforcement Network (FinCEN). The bill also increases the transaction threshold above which an entity must register with FinCEN as a money services business. Further, these amounts must be updated every five years to reflect the change in the consumer price index.
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Treasury must review and report on the effectiveness and efficiency of the forms and requirements regarding domestic coin and currency transactions, foreign currency transactions, and anti-money laundering and combating the financing of terrorism measures, among other matters. Treasury must also make appropriate updates to such forms.
The bill also extends through 2031 the requirement that the director of FinCEN must be made annually available for testimony before congressional committees regarding certain FinCEN issues, including resources needed to implement beneficial ownership reporting requirements.
People & committees
Rep. Loudermilk, Barry [R-GA-11] · R–GA
Legislative record
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Placed on the Union Calendar, Calendar No. 478.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-556.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-556.
Ordered to be Reported (Amended) by the Yeas and Nays: 30 - 24.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jun 11, 2026. Consult Congress.gov for the current record.
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