JD Supra

FinCEN's proposed CIP rule for permitted payment stablecoin issuers: Familiar doctrine, new frontier

The proposed rule largely applies existing bank customer identification program (CIP) concepts, such as risk-based procedures ...
JD Supra

FinCEN (and SEC) Propose New Customer Identification Program Rule With Minimal Expected Impact on Private Fund Sponsors

On May 13, 2024, the Financial Crimes Enforcement Network (FinCEN), a bureau within the U.S. Treasury Department, and the Securities and Exchange Commission (SEC) proposed a joint rule (the Proposed ...
Insurancenewsnet.com

Request for Information and Comment on Customer Identification Program Rule Taxpayer Identification Number Collection Requirement

Written comments on this RFI are welcome and must be received on or before May 28, 2024. ADDRESSES: Comments may be submitted by any of the following methods: * Federal eRulemaking Portal: https://www ...
Crowdfund Insider

American Fintech Council Responds to FinCEN Customer Identification Program Information Request

The American Fintech Council, an association representing Fintech companies and BaaS banks, has submitted a response to the US Department of Treasury, Financial Crimes Enforcement Network (FinCEN) ...
American Banker

Updated customer identification rules are long overdue

Modern customer identification regulations are not only outdated, but actually contribute to a rise in identity crimes. New threats posed by identity fraud today have made the federal Customer ...