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USA PATRIOT Act In 2001, Congress enacted the USA PATRIOT Act. USA PATRIOT is an acronym that stands for "Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism." Under the USA PATRIOT Act, financial institutions are required to verify the identity of everyone they do business with to help deter terrorist activity. What does this mean to me? Your cooperation is needed when you open a new account or request a loan. You may be asked questions to establish and confirm your identity. It may also be required for you to provide one or more of the following types of information: | • | Driver's license | | • | Passport | | • | US taxpayer identification number (TIN) | | • | Alien ID card | | • | Any other government-issued document evidencing nationality or residence |
You may be periodically asked to verify your identity again. USA Federal has already employed this safety precaution for members to combat increases in identify theft over the past several years. Now with the USA PATRIOT Act, identity verification takes on even greater importance, helping prevent fraud, identity theft and the spread of terrorism. USA Federal Credit Union thanks you for your cooperation and understanding in helping keep America safe.
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