CU*Answers, the CUSO that provides the enterprise core data processing system CU*BASE, has initiated a project that will assist credit unions in completing Currency Transaction Reports (CTRs).
The CU*BASE system will display a series of CTR form fill-in screens, with as many fields as possible pre-populated from the transaction and CU*BASE files. All data used to compile the form will be stored so that the CTR can be printed immediately or later (90-day retention), and can be reviewed, edited, reprinted, and ultimately marked as “submitted” via the BSA Inquiry toll. This new optional feature will replace the existing teller warning that a transaction triggers for a CTR to be completed.
The form will be generated through a similar process as the CUSO uses for custom loan forms, but with a new database similar to the CU*BASE Mortgage Forms Data Capture system so that the data entered will be retained for additional review, edits, and reprints. Periodic regulatory updates to the form will be handled by the Audit Link team so that all credit unions receive the necessary updates.
This new feature is expected to be ready for beta testing the 2nd Quarter of 2010.