Tag: customer_identification_program

• FinCEN Issues Guidance on Using Digital Credentials for Customer Identity Verification

  8 Sep 2026 2:28 p.m. · Source: Financial Crimes Enforcement Network

  FinCEN and other agencies clarify that banks and credit unions can use verifiable digital credentials, like mobile driver's licenses, for customer identity verification under the CIP Rule, provided certain conditions are met.

  BusinessPolitics and GovernmentScience & TechnologyFederal GovernmentBankingComputers and InternetLegal FinCENVerifiable Digital CredentialsCustomer Identification ProgramMobile Driver's LicensesIdentity VerificationFinancial InstitutionsRegulatory GuidanceFinancial Crimes Enforcement Network

• Financial Regulators Issue Guidance on Digital Credentials for Customer ID

  8 Sep 2026 2:11 p.m. · Source: Office of the Comptroller of the Currency (OCC)

  Federal financial regulators, including the OCC and FinCEN, issued FAQs on using mobile driver's licenses and other verifiable digital credentials. This guidance clarifies their treatment under the Customer Identification Program Rule for BSA/AML compliance.

  BusinessPolitics and GovernmentLaw EnforcementFederal GovernmentBankingLegalEconomy OCCFinCENVerifiable Digital CredentialsMobile Driver's LicensesBank Secrecy ActAnti-Money LaunderingCustomer Identification ProgramOffice of the Comptroller of the Currency (OCC)

• FinCEN Proposes Rule for Stablecoin Customer Identification Programs

  18 Jun 2026 9:21 a.m. · Source: Financial Crimes Enforcement Network

  FinCEN and other agencies have proposed a new rule under the GENIUS Act. It mandates customer identification programs for stablecoin issuers, treating them as financial institutions to combat illicit finance and protect U.S. financial security.

  Politics and GovernmentBusinessLaw EnforcementFederal GovernmentEconomyBankingLegalFinancial Markets FinCENGENIUS ActStablecoinsCustomer Identification ProgramFinancial RegulationBank Secrecy ActU.S. Department of the TreasuryFinancial Crimes Enforcement Network

• Federal Reserve Proposes Customer ID Rules for Payment Stablecoin Issuers

  18 Jun 2026 9:07 a.m. · Source: US Federal Reserve

  The Federal Reserve Board proposes new rules for payment stablecoin issuers, requiring effective customer identification programs. This aims to boost transparency and reduce risks in digital assets, seeking public comment on the mandate for verifying customer identities.

  BusinessPolitics and GovernmentFederal GovernmentEconomyBankingLegalFinancial Markets Federal Reserve BoardPayment stablecoinCustomer identification programDigital assetsFinancial regulationPublic commentFinancial stabilityU.S. Federal Reserve

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