Regulatory Alerts2003-05-09
Added
Customer Identification Programs for Certain Banks Lacking a Federal Functional Regulator
FinCEN proposes to amend 31 CFR 103.121 by revising paragraph (a)(2)(ii) to extend customer identification program requirements to banks that do not have a federal functional regulator. This proposed rule would apply the same section 326 rules to these banks as currently apply to banks with a federal functional regulator, credit unions, trust companies, and private banks lacking a federal functional regulator. Written comments on the proposed rule may be submitted on or before June 23, 2003.
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