We have been asked by several clients whether the new Beneficial Ownership rule has a customer notification requirement, similar to the current CIP Notice. While there is NO requirement to provide customers a notice, many banks feel it would be “beneficial” (pun intended) to notify effected Legal Entity customers.
We greatly value our clients and are always looking for ways to help. So, we are pleased to announce that we have developed an “optional” Beneficial Ownership lobby notice and desk tent. Even better, they are available for FREE on our website. You will also find the CIP Notice that we developed back in 2003 when the Customer Identification Program was introduced.
As always, our mission is to delight you and help you with your compliance needs so that you can get back to serving your customer!
Deb joined Banker’s Compliance Consulting with twenty years of experience in the banking industry. Her past positions include teller, credit review analyst, assistant financial officer, BSA Officer, Compliance Officer, and Director of Compliance. She has worked for both a small community bank and a large billion-dollar bank.
Deb has Associate Degrees in Business Management and Accounting. She is a graduate of the American Bankers Association National Graduate School of Compliance Management, an honors graduate of Schools of Banking Compliance School, and a graduate of Schools of Banking Advanced School of Banking. Deb’s considerable knowledge and experience make her a valuable member of the Banker’s Compliance Consulting Team. Deb is a Certified Regulatory Compliance Manager (CRCM) and a Certified Anti Money-Laundering Specialist (CAMS).
Deb loves to spend her free time cycling, running, kayaking and weight lifting with her husband. Between them, they have three adult children and six grandchildren. Other interests include anything outdoors and anything she hasn’t done or seen yet!