ICBA and its 44 state affiliates sent a letter to the Treasury Department urging it to raise the suspicious activity report and currency transaction report thresholds. ICBA and the affiliates said:

• The current reporting thresholds, which haven’t been updated since 1972 (CTR) and 1992 (SAR), capture far more transactions than intended.
• Outdated thresholds force community banks to divert scarce resources to process an excessive volume of CTR and SAR filings, requiring costly technology systems, extensive staff time for monitoring and reporting, and ongoing training.
• Treasury should prioritize modernizing these thresholds by raising the CTR threshold to $30,000 and the SAR threshold to $10,000, which will significantly reduce unnecessary filings, deliver more actionable intelligence to law enforcement, and free community banks to focus resources on serving local businesses and families.