Treasury Pressed on Appeal Over Bar for California Money Firms

The Treasury Department was questioned by the Ninth Circuit Monday on why a lower court order blocking its recordkeeping and reporting requirements for money services businesses near the southern border should be either vacated or narrowed.

Judge Kenneth Kiyul Lee asked whether the entire appeal was now moot since the US Department of Treasury’s geographic targeting order that directs certain check cashers and currency exchangers to report all cash transactions over $200 expired in September 2025. The Financial Crimes Enforcement Network issued a new rule last September that raised the reporting threshold to transactions over $1,000 for businesses in 30 ...