BREAKING: US bank giants lobby to raise $10,000 AML reporting threshold up to $100,000 as part of de-regulation push – AML Intelligence

By Lananh Nguyen, Tatiana Bautzer and Pete Schroder

U.S. BANKING giants are pushing to ease a requirement whereby all cash transactions above $10,000 must be reported to the government.

Bank bosses want to cut reporting requirements on some transactions, limit regulators’ enforcement powers, speed up deal approvals and overhaul capital rules, industry executives have said.