IDENTIFICATION RULE

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FYI: The U.S. Treasury Department may be moving to restrict the use of consular identification cards, issued by foreign governments, at financial services institutions. Immigration rights advocates note that the cards’ growing acceptability have offered low-income immigrants access to financial services they previously had to turn to the sub-prime market to find. Following the passage of the USA Patriot Act, the Treasury Department issued regulations allowing banks to decide on their own what types of ID they would accept to open new accounts. But earlier this month, Treasury officials reopened debate over those regulations. The department is soliciting comments through the end of the month, in what some fear is a prelude to setting more stringent rules. [7/18/03]