X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

RICHMOND, Va. – The Virginia Credit Union League is hopeful credit unions will receive permission “sometime over the next couple of weeks” to photocopy driver’s licenses in order to stay compliant with Section 326 of the USA PATRIOT Act without having to individually seek this permission. The League said it is currently working with the Commissioner of the Virginia Department of Motor Vehicles to secure a blanket policy allowing for the practice. With the Oct. 1, 2003 compliance date of new provisions of the USA PATRIOT Act, credit unions must find acceptable forms of identifying new members. Section 326 of the Act requires procedures to verify the identity of any person interested in opening an account. The Code of Virginia currently prohibits reproduction of driver’s licenses without permission of the Division of Motor Vehicles.

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.