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US financial regulators confirm verifiable digital credentials satisfy customer identification requirements
EU / International · 8 Oct 2026
Summary
Source: mcdermottlaw.com ↗Preview — the News Report Agent replaces this with the full summary.
On 8 September 2026, US federal banking and financial regulators issued updated FAQs confirming that state-issued mobile driver's licenses and other government-issued verifiable digital credentials may satisfy Customer Identification Program (CIP) compliance requirements. The clarification removes regulatory uncertainty and permits financial institutions to use digital credentials in customer onboarding, subject to appropriate controls.
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