A Currency Transaction Report (CTR) must be filed when a customer conducts a cash transaction that:
Correct Answer
B) Exceeds $10,000 in a single business day
Under the Bank Secrecy Act, a CTR must be filed for any currency transaction that exceeds $10,000 in a single business day. This includes multiple transactions that aggregate to more than $10,000 in one business day.
Why This Is the Correct Answer
Under the Bank Secrecy Act, a CTR must be filed for any currency transaction that exceeds $10,000 in a single business day. This includes multiple transactions that aggregate to more than $10,000 in one business day.
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A borrower receives a Loan Estimate on Monday and immediately requests changes to the loan terms. The lender provides a revised Loan Estimate on Wednesday. What is the earliest date the borrower can legally consummate the loan?