Hello,
I am currently conducting our New Accounts audit and came across an anomaly that I was curious about. In my samples I had a couple of accounts that had addresses that did not match the ID and could not be confirmed through Chexsystems and/or the Credit Report. When I asked and looked through our policies there didn't seem to be any provisions for instances like that, we basically just take the member's word on what their address is.
I am wondering does anyone out there require an address verification in instances where the address can't be confirmed by the ID or Qualifile to open a new account? If that is something that your credit union requires would you willing to share any verbiage that you have that deals with the requirement?
Thanks!
Christopher
