Senators Kennedy and Scott propose the STREAMLINE Act to modernize outdated financial reporting standards and reduce bureaucratic burdens.
Quiver AI Summary
Kennedy and Scott introduce legislative initiative: Senators John Kennedy and Tim Scott have proposed the STREAMLINE Act to modernize the Bank Secrecy Act's reporting requirements for financial institutions. The bill aims to raise outdated financial reporting thresholds significantly, accounting for inflation and thereby reducing the burden of paperwork on banks and credit unions.
Bipartisan support and goals: The act, supported by several co-sponsors, seeks to update thresholds from $10,000 to $30,000 for currency transaction reports and from $2,000 to $3,000 and $5,000 to $10,000 for suspicious activity reports. The goal is to enable law enforcement to focus on serious financial crimes while making financial services more accessible to Americans.
Endorsements from various stakeholders: The Independent Community Bankers Association, American Bankers Association, and America’s Credit Unions have expressed support for the bill, emphasizing the need to streamline reporting processes for enhanced efficiency and effectiveness in combating financial crime.
Disclaimer: This is an AI-generated summary of a press release. The model used to summarize this release may make mistakes. See the full release here.
John Kennedy Net Worth
Quiver Quantitative estimates that John Kennedy is worth $20.3M, as of October 21st, 2025. This is the 64th highest net worth in Congress, per our live estimates.
Kennedy has approximately $7.3M invested in publicly traded assets which Quiver is able to track live.
You can track John Kennedy's net worth on Quiver Quantitative's politician page for Kennedy.
John Kennedy Bill Proposals
Here are some bills which have recently been proposed by John Kennedy:
- S.3017: A bill to require updates to the threshold amounts applicable to certain currency transaction reports, and for other purposes.
- S.2958: AGOA Extension and Bilateral Engagement Act of 2025
- S.2946: NFIP Extension Act
- S.2931: NFIP Extension Act
- S.2752: U.S.-South Africa Bilateral Relations Review Act
- S.2441: Build Now Act of 2025
You can track bills proposed by John Kennedy on Quiver Quantitative's politician page for Kennedy.
John Kennedy Fundraising
John Kennedy recently disclosed $1.6M of fundraising in a Q3 FEC disclosure filed on October 9th, 2025. This was the 28th most from all Q3 reports we have seen this year. 98.8% came from individual donors.
Kennedy disclosed $1.1M of spending. This was the 32nd most from all Q3 reports we have seen from politicians so far this year.
Kennedy disclosed $16.8M of cash on hand at the end of the filing period. This was the 5th most from all Q3 reports we have seen this year.
You can see the disclosure here, or track John Kennedy's fundraising on Quiver Quantitative.
