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#392907 - 07/28/05 04:41 PM Lease Agreements
1944 Offline
Junior Member
Joined: Jul 2004
Posts: 36
Is a leasing company subject to the same BSA/CIP requirements as banks. For example, we purchase lease agreements froma leasing company, do we need to conduct CIP on the lessee or should the leasing company conduct this?

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#392908 - 01/11/06 08:15 PM Re: Lease Agreements
Tesla Offline
Power Poster
Joined: Nov 2003
Posts: 3,726
I would think you only need to CIP your customer, the leasing company. Technically, the leasing company should be doing an OFAC check on their lessee - but I doubt they do.

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