Acceptable Forms of Customer ID for CIP Purposes - Wisconsin Bankers Association

Acceptable Forms of Customer ID for CIP Purposes - Wisconsin Bankers Association

By Scott Birrenkott While there have been no changes to Customer Identification Program (CIP) requirements, WBA legal is frequently asked: what forms of identification are acceptable for purposes of verifying a customer’s identity? The short answer is that it depends on bank policy. Meaning that theoretically, any form of ID could potentially be used to verify a customer’s identity, and meet CIP requirements. In order to understand why, it helps…