I guess alot depends on who you want to do business with and how you write your CIP. In my area we accept foreign and U.S. passports because we have a large "winter" population from Mexico and Canada who open accounts. Be careful also about thinking all your drivers licenses and ID's from other states are being "verified". Check with FIS on their DL State Files. It is my understanding that only a handful of states share their DL databases with "ID verification" companies. If you look at several inquiries from other states you will probably see that the person has a valid drivers license "format". It doesn't necessary verify the validity of the ID. However, on the other hand, passports are not verified either.
Your CIP needs to identify the types of identification you feel comfortable with for your area and your market as well as the risk you want to take. Our CIP states that we require "an unexpired Government issued photo identification" such as D.L., state I.D., military ID, passport, U.S. alien registration card. If we accept a foreign passport (which we do quite readily) it has to have a U.S. entry stamp in the passport.
There is no way to verify 100%, the identification of the person sitting across the desk from me but I have to take reasonable and practical measures and follow the guidelines set out in my CIP when the account is opened. This has worked very well for us in the past 10+ years CIP has been around but each financial institution sets its own standards.