Nasdaq to open second headquarters in Texas
Exchange operator Nasdaq, long known for its Times Square location, said it would open a regional headquarters in Dallas. It’s the latest sign that Texas is fast emerging as a major financial hub, rivaling New York.
Federal officials are bolstering the reporting requirements for financial transactions in 30 ZIP codes across two states in an effort to target criminal activity around the border.
In a March 11 press release, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) said the order would require impacted money services businesses like check cashing, currency exchange or money wire outfits, to report transactions over $200, down from the $10,000 limit.
Secretary of the Treasury Scott Bessent said in a news release that the order “underscores our deep concern with the significant risk to the U.S. financial system of the cartels, drug traffickers, and other criminal actors along the Southwest border … As part of a whole-of-government approach to combatting the threat, Treasury remains focused on leveraging all our available tools and authorities to better identify and counter these criminal activities.”
Libertarian think tank Cato Institute has argued the order is a move in the “wrong direction,” as many believe the $10,000 threshold is already too low, especially considering inflation.
“Yet, instead, we are seeing a drastic increase in financial surveillance, making the problem even worse,” a Cato blog post reads.
Limit in place for these Texas, California ZIP codes
The following locations are listed in the order:
- Imperial County, California: 92231, 92249, 92281, 92283
- San Diego County, California: 91910, 92101, 92113, 92117, 92126, 92154, 92173
- Cameron County, Texas: 78520, 78521
- El Paso County, Texas: 79901, 79902, 79903, 79905, 79907, 79935
- Hidalgo County, Texas: 78503, 78557, 78572, 78577, 78596
- Maverick County, Texas: 78852
- Webb County, Texas: 78040, 78041, 78043, 78045, 78046
The order goes into effect April 14, and will end on Sept. 5.
See map: Texas counties with new financial reporting requirements
See map: California counties with new financial reporting requirements
Kinsey Crowley is a trending news reporter at USA TODAY. Reach her at kcrowley@gannett.com. Follow her on X and TikTok @kinseycrowley or Bluesky at @kinseycrowley.bsky.social.
