The Office of the Comptroller of the Currency published a statement by Acting Comptroller Rodney E. Hood supporting an order that grants an exemption from the Customer Identification Program (CIP) rule, allowing banks to use an alternative method to obtain Taxpayer Identification Number (TIN) information from a third party rather than directly from a customer, provided certain other criteria are met. The OCC framed the exemption as a step in Bank Secrecy Act modernization that supports online and mobile banking and enables greater use of online identity verification services that were not available when the CIP rule was adopted in 2003. The statement also highlighted financial inclusion benefits for customers reluctant to provide a full TIN electronically during online account opening or credit applications, and emphasized that the order does not impose new requirements but instead gives banks an optional compliance approach intended to ease burden without weakening the BSA regime’s ability to combat illicit finance.
Office of the Comptroller of the Currency 2025-06-27
US Office of the Comptroller of the Currency backs exemption order allowing third party collection of taxpayer identification numbers under CIP rules
The Office of the Comptroller of the Currency issued an order exempting banks from the Customer Identification Program rule, allowing them to obtain Taxpayer Identification Number information from third parties under certain conditions. This exemption is part of Bank Secrecy Act modernization, facilitating online and mobile banking and enhancing financial inclusion. The order offers an optional compliance approach without imposing new requirements or weakening the BSA's ability to combat illicit finance.