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FINANCIAL INSTITUTION LETTER | SEPTEMBER 8, 2026 |
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Summary:
The Financial Crimes Enforcement Network, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, and Office of the Comptroller of the Currency are issuing two new frequently asked questions (FAQs) that address the use of state-issued mobile driver’s licenses (mDLs) and other government-issued digital credentials, which may be used to verify the identities of natural person customers under the Customer Identification Program (CIP) rule. Additionally, FinCEN and the Agencies are amending a previously issued FAQ to reflect updated terminology being used to describe verifiable digital credentials (VDCs).
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Statement of Applicability:
The contents of, and material referenced in, this FIL apply to all FDIC-insured financial institutions.
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Distribution:
FDIC-Insured Financial Institutions.
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