Information on the USA Patriot Act & Congressional Bank’s Customer Identification Program
You may have recently received a letter from Congressional Bank requesting that you call or come into a Congressional Bank branch to update your customer information. Federal law requires Congressional Bank, and all financial institutions to ensure that we have the correct information in our files.
To help the government fight the funding of terrorism and money laundering activities, U.S. Federal law requires financial institutions to obtain, verify, and record information that identifies all parties defined as a “customer” as well as, in certain cases, individuals or entities who have control over or are associated with an account.
What does this mean for you?
We recognize that some of the questions we are required to ask of you may seem burdensome or unnecessary, but we ask for your cooperation and understanding since this is something we are required to do by law and for your protection.
For Current Customers
Congressional Bank must review, verify and record certain identifying information including complete legal name, current mailing address, phone number, account purpose, expected account activity and other key pieces of information unique to you and your account(s).
For New Customers
At account opening, Congressional Bank must collect, verify and record certain identifying information as described above.
- If you are opening an account for a business or other institution, we will ask for the entity’s name, address, taxpayer identification number, affiliations and ownership. We will also collect information regarding the purpose of your account and anticipated account activity. We may ask to see certified articles of incorporation or other identifying documents on the entity. Additionally, we will request identifying information on the individuals or entities that have control over or are associated with an account, including information about those individuals.
- If you are opening an account for yourself or jointly with another individual, we will ask for the name, address, date of birth, place of birth, social security number, employer and other information that will allow us to identify all customers on the account.
Contacting Us
You can reach us by phone or in person, Monday through Friday between 9:00 am – 5:00 pm EST
- In Maryland, call:
- Bethesda: 301.654.4902
- Potomac: 301.299.8599
- Rockville: 301.984.6000
- In DC, call, K Street: 202.331.4000
- In Virginia, call Herndon: 703.796.9151
More Infomation
More information about banks’ regulatory requirement related to this topic can be found at
https://www.fincen.gov/resources/statutes-and-regulations/cdd-final-rule
https://www.govinfo.gov/content/pkg/FR-2016-05-11/pdf/2016-10567.pdf