Denver Direct: We have to report you if you ask

Saturday, January 25, 2014

We have to report you if you ask

You know that your bank is required to file a form with the Federal government if a transaction in any of your accounts is $10,000 or greater. Even smaller transactions that add up to $10,000 have to be reported.
I went to my bank (UMB) to ask for a list of those actions that would trigger a filing of the report. “We can’t give you that”, I was told by a VP of the bank. “It’s prohibited.”
“Is asking for a list one of the triggers?” I asked.