Answer:
Yes. You would need to file a CTR if a payment, such as a payoff or principal reduction, involved the receipt of more than $10,000 in cash. The bank should investigate any such payments and consider whether it makes sense, and is usual, for the borrower to make cash payments on the loan. Such a payment might be expected for some cash businesses, such as convenience stores, but cash is generally an unusual method of payment for many loan types, particularly commercial credits.
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