USA PATRIOT ACT - DISCLOSURE


Section 326 of the Act requires the creation of reasonable procedures to:

 

(1) verify the identity of any person seeking to open an account/establish any relationship with the credit union, to the extent reasonable and practical;

 

(2) maintain records of the information used to verify the person's identity, including name, address, and other identifying information; and

 

(3) determine whether the person appears on any list of known or suspected terrorist organizations provided to the financial institution by any government agency.