With reference to #46 above, Barnes Escrow has received cash of $45,000 from Gramercy Stables for the cash closing requirements of $102,000. Gramercy pays the remaining amount of the cash due at closing through a wire transfer to Barnes from Gramercy's Bank. Barnes proceeds with the disclosure with no further action
A)?As long as the total amount due is deposited with Barnes, Barnes has complied with its duties.
B)?The $45,000 will require a source verification under the Patriot Act.
C)?The $45,000 does not require a source verification because the majority of the funds came directly from a bank.
D)?The Patriot Act does not apply to escrow companies.
B
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