Republican Senators Answer Trump’s Call to Modernize Banking System

Republican Senators Answer Trump’s Call to Modernize Banking System

Modernizing the banking system has been a priority of the Trump Administration. In March 2025, President Trump signed an executive order mandating all federal disbursements and receipts to be electronic, accelerating the shift towards a fully digital payment system. On August 7, President Trump signed the “Fair Banking” executive order to ensure “federal regulators do not promote policies and practices that allow financial institutions to deny o…

STREAMLINE Act Targets Outdated Financial Reporting Laws

A bipartisan group of US lawmakers, led by Senator Tim Scott of South Carolina, has introduced a bill to update parts of the Bank Secrecy Act (BSA).

Congress moves to revamp Bank Secrecy Act’s reporting thresholds after 50 years

The STREAMLINE Act would update anti–money laundering rules by lifting decades-old thresholds for transaction reporting, cutting red tape for banks and crypto companies.