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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Financial Institution Letters

FIL-21-2016
March 21, 2016

Bank Secrecy Act

Interagency Guidance to Issuing Banks on Applying Customer Identification Program Requirements to Holders of Prepaid Cards

Printable Format:

FIL-21-2016 - PDF (PDF Help)

Summary:

The federal banking agencies (FBAs) and the Financial Crimes Enforcement Network (FinCEN) are issuing the attached guidance to clarify existing Customer Identification Program (CIP) requirements for banks that issue prepaid cards.

Statement of Applicability: This Financial Institution Letter applies to all FDIC-supervised institutions.

Highlights:

Distribution:

Suggested Routing:

Related Topics:

Attachment:

Contact:

Note:

FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at http://www.fdic.gov/news/news/financial/2016/index.html.

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.

Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, Room E 1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).

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