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OFAC - Credit Limit Increase

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Do you have to pull a new OFAC on a customer each time you increase their credit card limit?

Most banks periodically scrub their customer base against OFAC screening software. Since OFAC checking is purely based on a bank's risk assessment and is not governed by specific regulations indicating what and when to perform a check, those types of factors should be considered before a bank institutes such a policy.

First published on 12/03/07

First published on 12/03/2007

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