We always CIP loan guarantors. However, we recently relaxed our CIP procedures for authorized signers on some accounts in order to be more competitive in our market. For example, charitable associations and clubs (such as the local YMCA, booster clubs, etc.)who frequently change signers can now do so by supplying only the signer's name, SSN and signature.
The business is the owner of the funds in the account and they are responsible for anyone they include as an authorized signer. We do reserve the right to require additional documentation/verification for any signer at any time deemed necessary by us.
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In the end, it's all just a bunch of paper....