Archive

Why Comply With 2018 CDD Requirement Now

The OCC entered into a Consent Decree with Business Bank of Texas on July 20, 2016 after the OCC initially announced its intentions to issue a Cease and Desist (C&D) Order. Previously, we issued a blog on the Beneficial Ownership FAQs (posted August 18, 2016) which stated that May 11, 2018 was the applicability date for the following requirements: Identification and Verification of Legal Entity Customers; and Requirement to add a new “fifth pillar”: Understand […]

Read More…