Regulatory Alerts2006-08-10
Added
Corporate Credit Unions’ Currency Transaction Reporting Obligations
Corporate credit unions and member credit unions must file Currency Transaction Reports for currency transfers exceeding $10,000, whether individually or aggregated within a single business day. The involvement of an armored car service acting as an agent does not relieve either entity of this reporting obligation. These institutions may utilize the Phase I exemption process to avoid repeated filings for transactions between them.
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