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#107857 - 08/19/03 05:38 PM CIP Notice
AMXSteve Offline
Member
Joined: Jun 2001
Posts: 75
Wilmington, OH, USA
I am curious as to how other institutions are wording their CIP notices. Are you just sticking to the model language, or are you adding any additional wording to the model language? We are thinking of adding a line at the end of the model language indicating that we may verify customer information through outside sources (e.g. ChexSystems, credit bureau). Is anyone else adding to the model language or just using it as is?
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#107858 - 08/19/03 05:41 PM Re: CIP Notice
Anonymous
Unregistered

We are sticking with the model language!

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#107859 - 08/19/03 05:47 PM Re: CIP Notice
DeeQ Offline
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DeeQ
Joined: Dec 2002
Posts: 40,766
Turnpike Exit 10
Model language, too, just in a prettier format.
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#107860 - 08/19/03 06:50 PM Re: CIP Notice
amccary Offline
Junior Member
amccary
Joined: Jan 2003
Posts: 41
Nevada
We have also stuck to the model language.

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#107861 - 08/19/03 06:59 PM Re: CIP Notice
Kansayaku Offline
Diamond Poster
Joined: Jan 2003
Posts: 1,454
metsuretsu
David has a really nice one on his website.

Banker's Compliance Consulting

It adds a bit of patriotic appeal to the model language.
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#107862 - 08/19/03 07:51 PM Re: CIP Notice
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
Thanks for the compliment kansayaku. We thought the patriotic wording made it more customer friendly and explained the purpose.
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#107863 - 08/19/03 08:27 PM Re: CIP Notice
KK Offline
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KK
Joined: Jan 2002
Posts: 249
Southern California
We've condensed the model language a little.

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#107864 - 08/21/03 08:52 PM Re: CIP Notice
Anonymous
Unregistered

We have also condensed the notice...Ours simply says...Hey Bud, hand over the drivers license.

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#107865 - 08/27/03 06:58 PM Re: CIP Notice
Tisa Offline
Platinum Poster
Tisa
Joined: Jun 2003
Posts: 938
Do you know the way to ...
For our printed notice:
Since we're CIP-ing people who get added as new joint signers on existing accounts, we're adding wording that it pertains to new signers as well as new accounts. But it's pretty much staying close to the standard.

For our verbal notice (accounts initiated in the call center):
We decided the standard wording was extremely cumbersome for our call center reps to have to read, so we shortened it quite a bit for their script. That one currently reads:
“Federal law requires us to obtain and verify information that identifies each person on an account. We will need the names, addresses, dates of birth, Taxpayer Identification Numbers and other identifying information from each signer when you open an account or add any new signers.”

Still pretty nasty to have to read out loud to someone, but better than the long version.
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