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OCC 2004-3
Subject: Frequently Asked Questions: Final Customer Identification Program Rule
Date: January 8, 2004
To: Chief Executive Officers and Compliance Officers of All National Banks, Federal Branches and Agencies, Department and Division Heads, and All Examining Personnel

Description: Frequently Asked Questions: Final Customer Identification Program Rule

On May 9, 2003, the Comptroller of the Currency, Federal Reserve Board, Federal Deposit Insurance Corporation, Financial Crimes Enforcement Network, Office of Thrift Supervision, National Credit Union Administration, and the Treasury Department published a joint final rule, 31 CFR 103.121, titled "Customer Identification Programs for Banks, Savings Associations, Credit Unions and Certain Non-Federally Regulated Banks," at 68 FR 25090. This final rule implements section 326 of the USA PATRIOT Act of 2001 and requires banks, savings associations, credit unions, and certain nonfederally regulated banks to have a customer identification program (CIP).

To facilitate compliance with the CIP rule, the agencies are jointly issuing the attached frequently asked questions (FAQs), which provide staff guidance on the application of the rule.

Staff of the agencies are continuing to discuss the application of the CIP rule and additional FAQs will be issued, as they are prepared.

Questions on the FAQs may be directed to your OCC supervisory office or the Compliance Division at (202) 874-4428.

Ann F. Jaedicke
Deputy Comptroller for Compliance

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