Cash reporting paused on Texas border

EL PASO — A federal court in Texas issued a restraining order against the federal government, finding a new Financial Crimes Enforcement Network rule, which requires money services businesses in certain zip codes along the U.S.-Mexico border to report all cash transactions over $200, is likely arbitrary and capricious. The court notes some businesses in a targeted zip are across the street from businesses outside that zip, allowing any would-be criminal to sidestep the regulation with ease.