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Beneficial Ownership Requirements for Legal Entity Accounts

Wednesday, May 9, 2018Written by: Mitsy S. Huffstetler, CRCM, CERP

Overview

In May, 2016, the Federal government passed a new banking regulation regarding the beneficial ownership of legal entity customers.  This new rule requires financial institutions to identify the ultimate beneficial owner(s) and a controlling person of a legal entity customer on all new accounts.  

When Does this Rule Go into Effect?

Financial [...]

Read Full PostTags: Compliance

Categories

ComplianceBudgetingDebt ReductionMoney ManagementOnline BankingSavingsPress ReleaseEducationMortgagePersonnelCommunityPaycheck Protection Program (PPP)PasswordsSafety TipsCredit ScoresScamsDebit CardsCompany News

More Blog Posts

Four Tips for Better Money Habits (5/9/25)Lupus Awareness Month (5/5/25)Small Business Month Features Bill Hogan & CNext (4/15/25)Celebrating 120 Years: The Savings and Loan Crisis (3/20/25)Avoiding Loan Scams: Tips to Protect Yourself (3/11/25)Celebrating 120 Years: Lending Across Time (2/25/25)Elder Financial Exploitation: What You Need to Know (2/12/25)Century Next Bank Celebrates 120 Years! (1/27/25)Lights, Camera, Save! (10/23/24)Don't get spoofed this spooky season... (10/17/24)Financial Tips for College Freshmen (8/19/24)Can I pay you for your photo? (7/29/24)Sorry, Wrong Number... (7/19/24)LBA Leadership School: Bri Wimley (7/16/24)Elder Fraud: Turning Victims into Accomplices (5/14/24)It's Time for Financial Spring Cleaning! (4/5/24)Century Next Financial Corporation Ranked #25 (2/26/24)Advantages of Community Banks (2/23/24)Safe Deposit Box Basics (2/1/24)It's a new year, so let's talk saving and budgeting! (1/8/24)Too good to be true? It probably is... (9/19/23)CNext Town Talk: Our Monroe Branch (9/12/23)CNext Town Talk: Our Crossett Branches (9/5/23)CNext Town Talk: Our Ruston Locations (8/29/23)CNext Town Talk: Our West Monroe Branch (8/22/23)CNext Town Talk: Our Hamburg Branch (8/15/23)Imposter Scams (2/22/23)Check Fraud is on the Rise! (2/14/23)Nick Austin Named Ashley County Market President (1/18/23)Fraud Attempts at Walmart.com (10/26/22)Operations Appreciation Week (10/14/22)Shazam Fraud Monitoring (10/3/22)Bank with Locals (8/29/22)Spotting A Romance Scam (3/17/22)Online Dating Scams (2/17/22)Improving Credit Scores (8/10/21)How to Spot, Stop, & Report Government Imposter Scams (7/19/21)Phishing: Don't Take the Bait (7/13/21)Money Mule Scams (7/6/21)Imposter Scams: Say No, Keep Your Dough (6/28/21)Busting Homebuying Myths (3/15/21)Electronic Banking: Online Shopping Safety Tips (3/8/21)Protect Yourself from Coronavirus Scams (3/1/21)Bank Statement Security (2/24/21)Debit Card Safety Tips (12/21/20)How To Avoid Phishing Scams (12/1/20)Personal Information Precautions and Third Party Apps (11/6/20)5 ATM Safety Tips (10/20/20)4 Ways To Protect Your Passwords (9/22/20)SBA Streamlines PPP Forgiveness Application for Many PPP Borrowers (6/22/20)Is My Money Safe in the Bank During the Coronavirus Outbreak or Other Unexpected Situations? (4/3/20)8 Financial Tips for College Freshmen (9/26/19)Teacher Spotlight (9/20/19)Teacher Feature: Sarah Wages (9/13/19)Ashley County Teacher Spotlight (9/3/19)Ouachita Parish Back-to-School Edition (8/27/19)Teachers Impact Our Community (8/21/19)Hometown Heroes: Gage Selby and Tori Simmons (7/12/19)Hometown Heroes: Carolyn & Devin Chadwick (7/5/19)More New Faces at Century Next Bank (6/28/19)Century Next of Ashley County Welcomes New Employees (6/20/19)Introducing New Faces in our Century Next Family (6/14/19)Thank You For Being On The Journey Into The Next Century With Us! (6/4/19)The Heart | New Name. Same People. Same Priority. (2/7/19)Bank of Ruston Changes Name to Century Next Bank (2/1/19)BOR + FNBC | A Personal Story (1/29/19)How To Purchase A Home (8/15/18)Safe Deposit Box Etiquette (7/25/18)Bank of Ruston is Growing (5/22/18)Six Tips for Your Financial Spring Cleaning (5/15/18)Beneficial Ownership Requirements for Legal Entity Accounts (5/9/18)
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