To amend the Bank Secrecy Act to exempt transactions with respect to cash reward payments by crime stopper organizations from certain currency transaction reports.

This bill proposes an amendment to the Bank Secrecy Act, specifically targeting currency transaction reporting requirements for certain financial activities. It mandates the Secretary of the Treasury to exempt depository institutions from filing these reports under specific conditions. The exemption applies to transactions between a depository institution and a nonprofit organization when the transaction is directly connected to the nonprofit providing a cash reward in exchange for information about a crime. The core purpose of this legislative change is to reduce the administrative burden on banks that facilitate payments for crime stopper organizations . By streamlining this process, the bill aims to support the efforts of these organizations in offering rewards and encouraging public assistance in crime resolution.