Customer Identification Program
Federal regulations enacted
pursuant to Section 326 of the USA PATRIOT Act require all financial
institutions to verify the identity of every person who seeks to open an account
or become a signatory on an account with the institution. All persons are
subject to the identity verification requirements even though they may be a long
term customer of and well known to the institution.
For the purpose of the
regulation, an "account" includes every formal banking relationship that entails
ongoing services, dealings or transactions. Some examples are a deposit account,
loan, trust relationship or safe deposit box rental.
If you request to open an
account or become a signatory on an account with Farmers and Miners Bank and
Farmers and Miners Bank has not previously verified your identity under the new
regulatory requirements, Farmers and Miners Bank will request documentary
verification of your identity, such as a driver's license or passport and/or it
will verify your identity through other non-documentary methods. Similar
identification requirements apply to business entities such as corporations and
Farmers and Miners Bank, by policy, is required to retain a copy of any document it relied on to verify your identity.