On the retail deposit side, we collect the occupation from which the customer is retired. This is done primarily for compliance and risk monitoring, and CTR reporting. Is there value to collect this on a loan customer? Do you, and if yes, why? Thanks!

I would think that as part of sound underwriting practices that this information would be collected.

IMHO, collecting a 'valid' occupation should apply across the board. For the reasons you've outlined, we would collect and store that info at the customer level (not the account level). So in my perfect world, I'd collect that info as part of each new customer relationship regardless of what account(s) they choose to open. Realistically, if you don't get it upfront, it's much harder to collect it later.

Anon2 sez: I absolutely would want that for loan customers, for BSA purposes.

Thank you everyone.