3.0.0 1447 2023-01-11T19:54:14Z 2023-01-11T19:54:14Z House H HR 2007-03-09 110 hsba00 Financial Services Committee House Standing Referred to 2007-03-09T14:04:00Z 2007-03-09 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2007-03-09 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-03-09 Introduced in House IntroReferral 1000 9 Library of Congress J000255 Rep. Jones, Walter B., Jr. [R-NC-3] WALTER JONES R NC B. 3 N Finance and Financial Sector Administrative procedure Bank deposits Bank records Coins and coinage Commerce Congressional reporting requirements Consumer education Crime and Law Enforcement Crime prevention Department of the Treasury Economics and Public Finance Financial institutions Government Operations and Politics Government paperwork Indexing (Economic policy) Law Money Money laundering Finance and Financial Sector 00 2007-03-09 Introduced in House 2007-04-04T18:19:15Z 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 account, in multiple currency transactions subject to reporting requirements.

Requires the Secretary to prescribe regulations that: (1) provide guidance on identifying currency transactions involving illegal or suspicious activities; and (2) create a list of information that may be disclosed to customers before the reporting of suspicious activity.

]]> CTR Modernization Act Official Title as Introduced To amend sections 5313 and 5318 of title 31, United States Code, to reform certain requirements for reporting cash transactions, and for other purposes. Introduced in House IH Display Title CTR Modernization Act Short Titles as Introduced CTR Modernization Act Introduced in House 2007-03-09T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr1447ih/xml/BILLS-110hr1447ih.xml 2007-03-09 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.