The "Bank Privacy Reform Act" significantly reforms the Right to Financial Privacy Act of 1978, generally requiring government authorities to obtain a search warrant to access customer financial records. This change eliminates previous methods of access such as administrative subpoenas and formal written requests, thereby strengthening individual financial privacy protections. The bill also enacts sweeping changes to the Bank Secrecy Act (BSA), repealing numerous core provisions. These include requirements for financial institutions to file Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs), as well as mandates for reporting foreign financial agency transactions, bulk cash smuggling, and beneficial ownership information . The legislation narrows the BSA's stated purpose to simply retaining customer-identifiable transaction records, rather than for criminal or regulatory investigations. Furthermore, the bill strikes Subchapter III of Title 31, which provides the statutory basis for the Financial Crimes Enforcement Network (FinCEN) , effectively dismantling the agency. It also amends civil and criminal penalty sections to align with the repealed BSA provisions, significantly reducing the scope of enforcement for financial crimes.