On October 26th, 2001, President Bush signed into law the U.S. Patriot Act. The intention of this act is to help shore up our homeland security in order to prevent the events of September 11, 2001 from happening again.
Some provisions of this act were to be implemented at later dates. One section, the Customer Identification Program, was instituted effective October 1, 2003. The following statement addresses Greenfield Banking Company’s compliance with the Customer Identification Program
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal law requires that this bank obtain, verify, and record information that identifies each person who opens an account with us.
What this means for you: When you open an account with us, we are required by law to ask for your name, address, date of birth, driver's license, and any other information we need to clearly identify who you are. We apologize for any inconvenience this may cause you. Please recognize that we must obey the law.
IMPORTANT INFORMATION ABOUT OPENING A LEGAL ENTITY ACCOUNT
Section 326 of the USA Patriot Act requires all financial institutions to obtain, verify and record information that identifies each person who opens an account for a covered Legal Entity. New Rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats.
Each time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number and identification documents) for:
- Each individual that has beneficial ownership (25% or more) in the Legal Entity; and
- One individual that has significant managerial responsibility for the Legal Entity.
We proudly support all efforts to protect and maintain the security of our customers and our country.