Bank Secrecy Act: Customer Identification Program Rule Exemption for Insurance Premium Finance Loans

Details

• Publisher's site:
  https://www.fdic.gov
• Corporate Authors:
  Federal Deposit Insurance Corporation (FDIC)
• Description:
  The FDIC, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the National Credit Union Administration, collectively the federal banking agencies (FBAs), with the concurrence of the Financial Crimes Enforcement Network (FinCEN), grant an exemption from the requirements of the customer identification program (CIP) rules for loans extended by banks and their subsidiaries to commercial customers to facilitate purchases of property and casualty insurance policies.
• Dataset Download URL:
  https://www.fdic.gov/news/financial-institution-letters/2018/fil18052.pdf
• Format:
  PDF
• Release Date:
  09/28/2018
• Update Date:
  09/28/2018
• Withdrawn Date:
  10/09/2020
• Agencies Involved:
  Federal Deposit Insurance Corporation (FDIC) ; Board of Governors of the Federal Reserve System ; Office of the Comptroller of the Currency (OCC) ; Financial Crimes Enforcement Network (FinCEN) ; National Credit Union Administration (NCUA)
• Fdic Employee Involved:
  Lisa Arquette
• Law Involved:
  Bank Secrecy Act ; Anti-Money Laundering ; Couter-Terrorist Financing
• Source:
  FDIC Website
• Memorandum To:
  FDIC-Supervised Banks (Commercial and Savings)
• FIL Number:
  FIL-52-2018
• Language:
  Eng
• Download URL:
  https://archive.fdic.gov/view/fdic/6841/fdic_6841_DS1.pdf
• File Type:
  [PDF - 117.87 KB]
• Collection(s):
  Inactive Financial Institution Letters (FILs)
• Main Document Checksum:
  urn:sha256:feef0ded98286f66d5c36e2f072bb6992b4bef933f3a0b2131fe9d1660cd9fab