Old thresholds face review

Treasury is considering higher SAR and CTR reporting thresholds, with special attention to how long a bank has known its customer.

“We believe that we must get this right”

Customer tenure could count

Bessent said Treasury may combine threshold increases with credit for banks that have long relationships with clients.

“giving credit to institutions for the duration that they have known their clients”

Community banks get focus

Treasury wants to cut excess costs for small and community banks while preserving financial system safety.

“actively working on threshold increases based on customer tenure”

Current limits are dated

SAR thresholds range from no minimum for insider abuse to $5,000 or $25,000. CTR rules still cover cash transactions above $10,000.

Stablecoins raised deposit fears

Rep. Brad Sherman warned that interest tied to stablecoins could pull deposits from banks and weaken small business lending.

Crypto authority split lawmakers

Bessent backed the Clarity Act as a way to give Treasury more authority, while Sherman argued it would boost crypto as a dollar rival.

“it gives Treasury more authority”

Dollar coins got support

Rep. Mike Flood asked how GENIUS Act stablecoins would support the dollar. Bessent said dollar-backed tokens increase demand for Treasury bills.

“Dollar-backed stablecoins increase demand for U.S. Treasury bills and reinforce the dollar”

Cyber work moves smaller

Treasury has met with large banks on cyber resilience and is now pushing lessons down to regional, small and community banks, plus service providers.

“the patching of a lot of open-source code”

BOI rollback backed

Bessent supported removing beneficial ownership reporting for 33 million domestic small businesses while keeping it for foreign entities.

“100%”