Check cashing Business

Posted By: Rosebud123

Check cashing Business - 09/14/06 07:23 PM

There is a customer who wants to finance with us the purchase of an apartment building. He is a foreignor and owns a check cashing business. We will not have the check cashing account. Only the loan. BSA Problem?
Posted By: CantBeShocked

Re: Check cashing Business - 09/14/06 07:36 PM

I don't necessarily think so but you will need to monitor his loan payments closely for excessive cash payments, structured cash payments, etc.