New Oregon Driver License and ID Cards not yet Real ID-Act Compliant

Changes to cards will enhance security; distribution begins this month.

3/12/2019

Compliance image

Late last year, the Oregon Department of Transportation announced an update to the state’s driver license and ID card designs. The new designs include changes to the cards’ appearance, as well as incorporates new security features.

According to the Department’s Dec. 12 news release, new security features include:

  • The card body is a durable plastic material made of a polycarbonate blend.
  • Customer information is laser-etched in clear, highly defined lines.
  • The colors are printed in tiny patterns that are difficult to see without magnification and difficult to duplicate.
  • The card’s front shows a hologram of Oregon symbols at certain angles and light conditions.

You can view the new designs and learn more about their security features on the Department of Transportation’s website. There is also a YouTube video available that provides a preview of the changes. Distribution of the new cards begins this month and will be at all DMV offices by the end of April. Current card holders do not have to replace their current cards until they expire.

Are the New Cards Real ID Act-Compliant?

Despite the design changes and new security features, these new cards are not Real ID Act-Compliant. To be compliant, the Real ID Act of 2005 requires identification to meet specific, federal standards for access to certain federal facilities and for boarding commercial aircraft by October 2020. The Department’s news release states that compliant Oregon identification cards will be available on an optional basis by July 2020.

The state of Washington already issues a Real ID Act-compliant driver license and an ID card, known as an “enhanced driver license” and the “enhanced ID card.” For more information about these cards, visit the Washington State Department of Licensing’s website. Idaho also issues a compliant ID, which is known as the “Star Card.” More information about it can be found on the Idaho Department of Transportation’s website.

Question of the Week

What are the record retention guidelines for the Bank Secrecy Act (BSA)?

In accordance with 31 CFR 1010.430, all records required under Chapter X—Financial Crimes Enforcement Network, Department of the Treasury, must be retained for five years.

Specifically, the §1010.430 states:

(a) Wherever it is required that there be retained either the original or a copy or reproduction of a check, draft, monetary instrument, investment security, or other similar instrument, there shall be retained a copy of both front and back of each such instrument or document, except that no copy need be retained of the back of any instrument or document which is entirely blank or which contains only standardized printed information, a copy of which is on file.

(b) Records required by this chapter to be retained by financial institutions may be those made in the ordinary course of business by a financial institution. If no record is made in the ordinary course of business of any transaction with respect to which records are required to be retained by this chapter, then such a record shall be prepared in writing by the financial institution.

(c) The rules and regulations issued by the Internal Revenue Service under 26 U.S.C. 6109 determine what constitutes a taxpayer identification number and whose number shall be obtained in the case of an account maintained by one or more persons.

(d) All records that are required to be retained by this chapter shall be retained for a period of five years. Records or reports required to be kept pursuant to an order issued under §1010.370 of this chapter shall be retained for the period of time specified in such order, not to exceed five years. All such records shall be filed or stored in such a way as to be accessible within a reasonable period of time, taking into consideration the nature of the record, and the amount of time expired since the record was made.

Legal Briefs

 National Credit Union Administration (NCUA)

NCUA released Q4 2018 credit union performance data. The NCUA Board approves a $160.1 million equity distribution from the NCUSIF for second quarter 2019.

Consumer Financial Protection Bureau (CFPB)

CFPB released an Advance Notice of Proposed Rulemaking on residential Property Assessed Clean Energy financing. The CFPB blog reminds consumers of federal law updates that allow parents to place credit freezes for their children under 16.

Federal Reserve Board (FRB)

The FRB issued an advance notice of proposed rulemaking seeking comment on whether to amend Regulation D to lower certain interest rates paid on balance at Federal Reserve Banks.

Federal Trade Commission (FTC)

In separate notices, the FTC is seeking comment on proposed changes to the Safeguards Rule and the Privacy Rule under the Gramm-Leach-Bliley Act. The Safeguards Rule requires financial institutions to develop, implement and maintain a comprehensive information security program. The Privacy Rule requires financial institutions to inform customers about its information-sharing practices and allow customers to opt out of having their information shared with certain third parties.

Federal Financial Institutions Examination Council (FFIEC)

The FFIEC adopted a policy statement on the Report of Examination (ROE). The principles in the policy statement are intended to promote consistency, clarity and ease of reference for the presentation of information in examination reports.

U.S. Department of Labor (DOL)

The DOL announced a Notice of Proposed Rulemaking (NPRM) which would increase the overtime salary threshold to $679 per week ($35,308 per year)

Office of Foreign Assets Control (OFAC)

OFAC has updated the SDN list as of March 11. The last update prior to this was Feb. 25.

Questions? Contact the Compliance Hotline: 1.800.546.4465; compliance@nwcua.org.