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My biggest gripe with this law has to do with the fact that the limit hasn't changed in at least 22 years. I remember learning about this law when I worked as a
by brewdad 11y ago
My biggest gripe with this law has to do with the fact that the limit hasn't changed in at least 22 years. I remember learning about this law when I worked as a bank teller one summer. $10K isn't what it used to be.
- gregpilling 11y agoThe "Know Your Customer" rules actually encourage reporting of transactions in the $2500 dollar range, which is even less. Source: drinking buddy who was VP of local bank and handled regulatory compliance
- perfTerm 11y agoYea that's nothing. Probably wouldn't even get you a pound of weed.
- DaveWalk 11y agoIt is kind of ridiculous. Per the article: >$10,000 today is equivalent to just $1,640 in 1970 dollars