“You want my business? Then mind your own business.“
Great quote! 
As far as I know, the bank has to file the report everytime the transaction is 10K or higher. But this is just per transaction…so they don’t keep like a monthly total. But I obviously would check into this – especially if you don’t plan on reporting these “independent contractor” income sources.
That being said, I think Bank of America scrutinizes my transactions way too much, and places holds on my checks when I deposit a few thousand dollars.
But Washington Mutual is much better, in my opinion. Hope your on the West Coast though – I haven’t seen too many WaMu’s out East…