Can a bank make me give more information about myself than another one when I’m opening a new account?

Posted June 27, 2019

Can a bank make me give more information about myself than another one when I’m opening a new account?

Posted: June 27 2019

Yes, they can. While federal laws and rules require them to have minimum requirements with Customer Identification Programs, they also have flexibility in establishing their own procedures.

PRC Further Resources

More PRC Resources

California Consumer Privacy Act

The California Consumer Privacy Act (CCPA) was the first comprehensive consumer privacy law in the United States, in effect since 2020 and broadened in 2023 by the California Privacy Rights Act. It lets Californians see, correct, and delete the personal information businesses collect about them and opt out of its sale or sharing, and it remains the only state law backed by a dedicated regulator, the California Privacy Protection Agency.

Colorado Privacy Act

Colorado was among the first states to let people opt out of online tracking with a single browser signal rather than site by site, a requirement built into the Colorado Privacy Act (CPA) that has been in effect since July 1, 2023. The law gives Coloradans the same core rights to access, correct, delete, and opt out, and it empowers the Attorney General to write detailed rules carrying it out.