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Article: Treasury decides not to require photocopying of customer IDs.(D.C. Dispatch)
- Article from:
- National Underwriter Life & Health-Financial Services Edition
- Article date:
- September 29, 2003
- Author:
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Life insurance companies and agents are praising the Treasury Department for its decision not to require financial institutions to photocopy customer identification documents.
Carl Wilkerson, chief counsel for securities with the American Council of Life Insurers, Washington, calls Treasury's action a sensible result.
ACLI, he says, is gratified Treasury decided to retain its original interpretation that the burden of maintaining photocopies exceeded the benefit.
William Anderson, senior vice president of government affairs with the National Association of Insurance and Financial Advisors, Falls Church, Va., adds that NAIFA is pleased Treasury ...