FinCEN CDD FAQ: Does the CDD Rule apply to all financial institutions?

Compliance > BSA > FinCEN CDD/BO Rule - eff 2016
Q:  Does the CDD Rule apply to all financial institutions?
 
A.  No. The CDD Rule applies to covered financial institutions.
 
 
 
 
This FAQ, and others, was released in July 2016.  The 2016 FAQs were issued to assist institutions in understanding the scope of the Customer Due Diligence (CDD) requirements that were published in May 2016.   They may be found here:  https://www.fincen.gov/statutes_regs/guidance/pdf/FAQs_for_CDD_Final_Rule_(7_15_16).pdf
 

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