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#145386 - 01/05/04 03:48 PM CIP and Adverse Action
Anonymous
Unregistered

Are we required to do CIP for loans that are turned down. Sometimes a customer picks up an application and drops it off without ever really sitting down with someone. Are we supposed to be getting ID and performing CIP when the customer picks up an application?

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Lending Compliance
#145387 - 01/05/04 04:43 PM Re: CIP and Adverse Action
SMQ, CRCM Offline
Power Poster
SMQ, CRCM
Joined: Apr 2001
Posts: 4,828
Between the lines
No, he is not a customer. (Thank you for small favors!!) It is required before you actually make him a customer, i.e. close the loan.
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