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ARTICLE · 18 FEBRUARY 2025

Acting FDIC Chairman Expresses Support For Enhancing Flexibility Of Customer Identification Program Requirements

Goodwin Procter LLP
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Welcome to Goodwin's Financial Services News Roundup. Our newsletter highlights important legal, regulatory, and business developments related to financial services and banking.

United StatesFinance and Banking
Josh Burlingham
Josh Burlingham
Samantha Kirby
Samantha Kirby
William McCurdy
William McCurdy
Nikki Cary
Nikki Cary
Ava Valeanu
Ava Valeanu

Welcome to Goodwin's Financial Services News Roundup. Our newsletter highlights important legal, regulatory, and business developments related to financial services and banking.

In this issue

1 Acting FDIC Chairman Expresses Support for Enhancing Flexibility of Customer Identification Program Requirements

On February 7, the Federal Deposit Insurance Corporation (FDIC) Acting Chairman Travis Hill sent a letter to the Financial Crimes Enforcement Network (FinCEN) in support of enhancing the flexibility of Customer Identification Program (CIP) requirements for bank-fintech partnerships – specifically, to allow fintechs to satisfy their CIP obligations by obtaining the last four digits of their customers' social security or tax identification numbers

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