Knowing your customer

[Greg Broiles]

On Wed, Dec 06, 2000 at 12:07:57PM -0500, Declan McCullagh wrote:
> 
> A minor clarification: The formal proposal known as "Know Your
> Customer" was withdrawn (see my back articles on that topic). But
> other regulations in the same vein require banks to require ID. 

I'm not a banking law geek, but I believe that there are federal
regs in place known as "know your customer" rules which apply to
depository institutions like banks, credit unions, etc - the 
regs which were withdrawn would have required NBFI's (non-bank
financial institutions) to comply with similar rules, as they're 
sometimes used instead of banks to avoid the KYC rules. 

Or am I thinking of something else? 

--
Greg Broiles gbroiles at netbox.com
PO Box 897
Oakland CA 94604