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#1748511 - 10/11/12 04:24 PM CIP Question
Auditgirl50 Offline
Member
Joined: Feb 2009
Posts: 62
Texas
Do we need to collect CIP information on a person who is signing a security agreement for a loan? Thank you!

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BSA/AML/CIP/OFAC Forum
#1748555 - 10/11/12 05:30 PM Re: CIP Question Auditgirl50
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
What does your bank's CI policy say? As far as the regulation goes, the borrower(s) are your customers, not the persons who pledge security (unless they are the same people).
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John S. Burnett
BankersOnline.com
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#1748579 - 10/11/12 05:58 PM Re: CIP Question Auditgirl50
Auditgirl50 Offline
Member
Joined: Feb 2009
Posts: 62
Texas
Thank you!

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#1748683 - 10/11/12 08:13 PM Re: CIP Question Auditgirl50
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,388
Galveston, TX
Why would you not want to properly identify someone signing a security agreement??
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