Question

The USA PATRIOT Act, passed in 2001 and designed to reduce terrorism risks, requires banks to A. change the discount rate B. respect customers' privacy C. avoid a customer identification program (CIP)

Answer 1

The USA PATRIOT Act, passed in 2001 and designed to reduce terrorism risks, requires banks to respect customers' privacy. Additionally, it includes provisions for customer identification programs (CIPs) to prevent money laundering and terrorist financing.