Bankowość · 29.03.1999

Minimum Security Devices and Procedures and Bank Secrecy Act Compliance

The Federal Deposit Insurance Corporation (FDIC) published a Notice of Proposed Rulemaking in the Federal Register on December 7, 1998. The proposed regulation would have required state nonmember banks to develop and maintain ``Know Your Customer'' programs. The FDIC received 254,394 comments from the public during the comment period. The overwhelming majority of the commenters were strongly opposed to the adoption of the proposed regulation. After considering the issues raised by the comments, and in view of the strong opposition to the proposed regulation, the FDIC is withdrawing the Notice of Proposed Rulemaking.