FORUM PROFILE

Re: Retention of Photo ID

#3171
JGo9
Participant

Having a copy of a photo ID in file can be considered as collecting Monitoring Information. If the loan requires or allows for the collection of monitoring information, then you should be fine.

However, on consumer loans where you don’t collect race, ethnicity, and sex information; the presence of a photo ID could be considered as collecting monitoring information and be a violation.