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#535521 - 04/24/06 11:13 PM Reportable or not, ABA CTR Q & A
bankergrul Offline
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bankergrul
Joined: Feb 2003
Posts: 27
SW US
If a person presents a check drawn on the bank, in the amount of $12,000.00, and the bank issuses a cashier's checkpayable to the person, is the transaction subject to a CTR? According to the ABA the answer is yes. Can someone verify that? I have never heard that before. I thought CTRs were triggered by actual cash being handled.
Last edited by Ken_Pegasus; 04/25/06 02:03 AM.
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#535522 - 04/25/06 12:20 AM Re: Reportable or not
Kathleen O. Blanchard Offline

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#535523 - 04/25/06 01:22 AM Re: Reportable or not
Elwood P. Dowd Offline
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Next to Harvey
Assuming RRiese is the one who works for the ABA, I believe they have already acknowledged the error. No currency, no Currency Transaction Report.
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#535524 - 04/25/06 01:27 AM Re: Reportable or not
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
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Thank you! All we need are CTR rumors going around. They should read the Fincen info before publishing an answer like that. I was quite ticked! I'll go have a Diet Coke now!
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#535525 - 04/25/06 04:12 AM Re: Reportable or not
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
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A correction will be in the May issue, per Steve Cocheo.
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