H.R. 1799 · 119th Congress

Financial Reporting Threshold Modernization Act

Introduced on Mar 3, 2025 by Barry Loudermilk (R-GA-11). 20 cosponsors, 1 of them from another party. Latest action (Mar 19, 2026): Placed on the Union Calendar, Calendar No. 478.

Stage
Reported by committee
Introduced
Mar 3, 2025
Cosponsors
20
1 from the other party
Policy area
Finance and Financial Sector
Open in the Congress explorerCongress.govAlert me

Progress

The furthest stage the measure reached. Simple and concurrent resolutions do not go to the President.

  1. Introduced
  2. Reported by committee
  3. 3Passed one chamber
  4. 4Passed both chambers
  5. 5Sent to the President
  6. 6Became law

Official title

To update thresholds for certain currency transaction reports and suspicious activity reports, and for other purposes.

Subjects

  • Administrative law and regulatory procedures
  • Banking and financial institutions regulation
  • Business records
  • Currency
  • Department of the Treasury
  • Fraud offenses and financial crimes

Summary

By the Congressional Research Service (Reported to House, Mar 19, 2026). Public domain.

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.

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.

Sponsor and cosponsors

Cosponsors by party as of the day they signed on. Original cosponsors signed on the day of introduction.

Barry LoudermilkR-GA-11Sponsor

Democrats · 1

Republicans · 19

Roll calls

Recorded votes on the measure. Most measures move by voice vote or unanimous consent, which record no individual positions.

No recorded roll call on this measure: it moved by voice vote or unanimous consent, or has not reached the floor.

History

Every action as published, oldest first. Roll calls link to how each member voted.

  1. Mar 3, 2025Introduced in House
  2. Mar 3, 2025Introduced in House
  3. Mar 3, 2025 · HouseReferred to the House Committee on Financial Services.
  4. Jan 22, 2026 · HouseCommittee Consideration and Mark-up Session Held
  5. Jan 22, 2026 · HouseOrdered to be Reported (Amended) by the Yeas and Nays: 30 - 24.
  6. Mar 19, 2026Reported (Amended) by the Committee on Financial Services. H. Rept. 119-556.
  7. Mar 19, 2026 · HouseReported (Amended) by the Committee on Financial Services. H. Rept. 119-556.
  8. Mar 19, 2026 · HousePlaced on the Union Calendar, Calendar No. 478.

Committees

Committees and subcommittees the measure was referred to.

Agencies in its committees' jurisdiction

Analisa's mapping of committee jurisdiction to federal agencies; the bill may touch others, or none of these.

Who lobbied on it

Organizations whose lobbying reports (LD-2) name this measure. Spending is what they reported for those quarters on all issues, not on this measure alone.

  1. CREDIT UNION NATIONAL ASSOCIATION, INC.6 reports
    $6.9M reported (all issues)
  2. GOWEST CREDIT UNION ASSOCIATION6 reports
    $350K reported (all issues)
  3. MONEYGRAM INTERNATIONAL, INC6 reports
    $270K reported (all issues)
  4. INDEPENDENT COMMUNITY BANKERS OF AMERICA5 reports
    $6.6M reported (all issues)
  5. California and Nevada Credit Union Leagues4 reports
    $440K reported (all issues)
  6. Michigan Credit Union League4 reports
    $180K reported (all issues)
  7. LEAGUE OF SOUTHEASTERN CREDIT UNIONS3 reports
    $210K reported (all issues)
  8. WELLS FARGO AND COMPANY3 reports
    $2.1M reported (all issues)
  9. American Bankers Association2 reports
    $6.7M reported (all issues)Federal contractor: AMERICAN BANKERS ASSOCIATIONAI match · 100%
  10. Chamber of Commerce of the U.S.A.2 reports
    $36.7M reported (all issues)
  11. BANK OF AMERICA CORPORATION1 report
    $290K reported (all issues)Federal contractor: BANK OF AMERICA, NATIONAL ASSOCIATIONAI match · 99%
  12. California/Nevada Credit Union League1 report
    $20K reported (all issues)
  13. Community Bankers Association of Illinois1 report
    $65K reported (all issues)
  14. JPMORGAN CHASE HOLDINGS LLC1 report
    $1.2M reported (all issues)
  15. National Taxpayers Union1 report
    $30K reported (all issues)
  16. Navy Federal Credit Union1 report
    $70K reported (all issues)Federal contractor: NAVY FEDERAL CREDIT UNION$7.1M in contracts, FY2026AI match · 100%

Reports filed in 2025, 2026.

Sources and method

Every figure on this page traces to these records.

  • Bill status: bills and resolutions, sponsors, actions, subjects and CRS summaries (U.S. Government Publishing Office (GovInfo), from Congress.gov (Library of Congress))GovInfo Bill Status bulk data (Congress.gov; summaries by the Congressional Research Service) · data current to Oct 9, 2026 · loaded Oct 9, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Members of Congress, their terms, committees and identifiers (The @unitedstates project (from the Biographical Directory of the U.S. Congress, the House and the Senate))unitedstates/congress-legislators: legislators, committees and current committee membership · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: CC0 1.0 (public domain dedication)
  • House roll-call votes (Office of the Clerk, U.S. House of Representatives)Office of the Clerk, U.S. House of Representatives, roll-call vote records · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Senate roll-call votes and DW-NOMINATE scores (Voteview (UCLA Department of Political Science))Lewis, Jeffrey B., Keith Poole, Howard Rosenthal, Adam Boche, Aaron Rudkin, and Luke Sonnet (2026). Voteview: Congressional Roll-Call Votes Database. https://voteview.com/ · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Free to use with the required citation
  • Lobbying disclosures (LD-1 registrations, LD-2 quarterly reports, LD-203 contribution reports) (Clerk of the U.S. House of Representatives)Clerk of the House, Lobbying Disclosure Act filings (organizations only; lobbyists' names are not loaded) · data current to Oct 9, 2026 · loaded Oct 9, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Positions are shown only where a roll call recorded them; voice votes and unanimous consent record none.
  • Money and votes are shown side by side; neither explains the other.