Loudermilk proposes raising bank unusual transaction reporting threshold from $10k to $30k

Loudermilk proposes raising bank unusual transaction reporting threshold from $10k to $30k

Rep. Barry Loudermilk, whose 11th Congressional District includes part of the northern portion of Cobb County, reintroduced legislation to raise the cash limit used to monitor for suspicious financial transactions from $10 thousand to $30 thousand, and to adjust that number periodically for inflation. In his email newsletter, he writes, “When Congress passed the Bank Secrecy Act of 1970, they did so with the clear intent to monitor significant a…