Answer:
The regulation doesn't call for a permanent street address; it requires a residential or business street address (your bank's policy may be stricter).
First published on BankersOnline.com 11/26/12
Determining Permanent Address for CIP Purposes
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Question:
I just read your answer to a question concerning the definition for a permanent address. I have a specific question concerning determining a permanent address for CIP purposes. The bank recently has experienced customers wanting to open new accounts who are living in campers, the local motel or with family in the area until they can find a place to live. What do we list as permanent physical address? Due to the nature of the business they are in , many have a previous address different from the address on a drivers license etc.
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