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#29291 - 08/23/02 09:51 PM CIP Notice

I am rather embarrassed to even post this question, with all the info that is out on CIP. I have a whole file on it, just haven't really got started on it. In a prior post there was reference made to the required notice to customers. Can someone briefly tell me, are we required to provide some sort of notice to the customer regarding CIp?

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General Discussion
#29292 - 08/23/02 09:59 PM Re: CIP Notice
downstown Offline
Gold Star
Joined: Aug 2001
Posts: 295
St. Louis, MO
Yes. The bank must provide the customer with a notice that the bank is requesting information to verify their identity. This can be verbal or written and may be as simple as a sign in the lobby. 103.2(b)(5) is the citation.

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#29293 - 08/26/02 11:13 PM Re: CIP Notice
Tina A Sweet Offline
Diamond Poster
Tina A Sweet
Joined: Aug 2001
Posts: 1,033
Marysville, Ca.
We are an OCC regulated bank and I have written a notice that on another posting others have commented on. If you would like to view just email me. An yes we must notify the customer of the ID. Being OCC regulated I am sure I will be required to prove to them that I have actually given notice, and with this the bank will be protected also.

Tina A Sweet-Williams
AVP Special Assets

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