Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON-Financial institutions should be able to choose whether to accept the matricula consular cards as a valid form of identification or not, CUNA Associate General Counsel Mary Dunn wrote in a comment letter to Treasury. “CUNA is aware that a number of concerns have been raised about the use of consular ID cards. While these issues should not be dismissed lightly, we do not believe they justify a prohibition against institutions using consular identification cards,” Dunn wrote. “The treatment of consular identification cards under the final rule is fully consistent with the USA PATRIOT Act’s language and intent.” She suggested developing voluntary guidelines to help ensure compliance with Section 326 when accepting matricula consular cards. “Such guidelines should clarify that institutions may require an individual seeking to open an account to provide a U.S. passport or other official U.S. document to show identity, in addition to a consular identification card,” she wrote. Treasury was seeking extra input on its final Section 326 rules of the PATRIOT Act regarding identification requirements. Dunn also said that CUNA opposed modifications to the final rule so close to the Oct. 1 compliance date.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.