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**TO:** Chief Executive Officers and Compliance Officers of All National
Banks and Federal Branches and Agencies, Department and Division Heads,
and All Examining Personnel

This bulletin transmits a notice of proposed rule making jointly
published by the U.S. Treasury Department, through the Financial Crimes
Enforcement Network (FinCEN), the federal banking agencies, and the
National Credit Union Administration on July 23. The attached proposal
implements section 326 of the USA PATRIOT Act for banks, savings
associations, and credit unions. Section 326 regulations for other
nonbank financial institutions were issued separately.

Section 326 requires regulations to be issued that set out minimum
account opening identification and verification standards for financial
institutions. Final regulations must be effective by October 25.

Comments on the proposed rule may be submitted to the Office of the
Comptroller of the Currency on or before September 6. Because paper mail
in the Washington area may be subject to delay, interested individuals
are encouraged to e-mail or fax comments to

Internet address: <regs.comments@occ.treas.gov>

Fax number: (202) 874-4448

The proposed regulation requires all banks to implement a customer
identification program (CIP) that is appropriate given the bank\'s size,
location, and type of business. The CIP must be written, incorporated
into the bank\'s anti-money-laundering/Bank Secrecy Act program, and
approved by the bank\'s board of directors or a committee of the board.
The proposed regulation requires that the CIP include

-   Risk-based procedures to verify the identity of customers (persons
    seeking to open accounts and any signatories on the accounts),
    including procedures that

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-   Specify the identifying information that the bank must obtain from
    any customer, at a minimum: name; address; for individuals, date of
    birth; an identification number, and

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```
-   Describe how the bank will verify the information provided by the
    customer either through documents or by using nondocumentary
    methods.

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```
-   Procedures to record identifying information provided by the
    customer, the methods and results of any measures undertaken to
    verify identity, and the resolution of any discrepancies in
    identifying information obtained. Records must be maintained for
    five years after the date the account is closed.

-   Procedures for determining whether the customer appears on any list
    of known or suspected terrorists or terrorist organizations provided
    to the bank by any federal government agency.

-   Procedures for providing customers with adequate notice that the
    bank is requesting information to verify their identity.

You can find a link to the proposed regulation on the FinCEN Web site,
http://www.treas.gov/fincen/.

Questions about the proposed regulation may be directed to your OCC
supervisory office, the Compliance Division at (202) 874-4428, or the
Legislative and Regulatory Activities Division at (202) 874-5090 or
(202) 874-3295.

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_

David G. Hammaker

Deputy Comptroller for Compliance

Attachment---[67FR48290](http://www.occ.treas.gov/ftp/bulletin/2002-34a.pdf)