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Ballard Spahr LLP

Are four digits enough? FinCEN seeks comments on CIP rule’s SSN collection requirement

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On March 28, 2024, the Financial Crimes Enforcement Network (FinCEN), in consultation with the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration,...more

Ballard Spahr LLP

SSN Identity Verification Tool Being Developed; Initial Enrollment Deadline of July 31

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The Social Security Administration (SSA) has announced the development of a portal that would allow financial institutions to join a planned real-time electronic system for verifying the identity of credit applicants.  ...more

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