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What does this SS# pilot mean for CUs?

  • 1.  What does this SS# pilot mean for CUs?

    Posted Jul 30, 2019 01:38 PM
    Good afternoon CUES members!

    I try to keep up with CU industry news, but I totally missed--until today--the open enrollment (which opened 7/16 and closes 7/31) for the new electronic Consent Based Social Security Number (SSN) Verification (eCBSV) service. Have you heard about this? What are the likely benefits for credit unions from enrolling in it? Here's the Federal Register entry about it.
    Notice of an Initial Enrollment Period for Our Electronic Consent Based Social Security Number Verification Service

    This second link from the Social Security Administration offers me: "With the consent of the SSN holder, CBSV can verify if the SSN holder's name, date of birth, and SSN match SSA's records. CBSV returns a match verification of 'yes' or 'no.' If our records show that the SSN holder is deceased, CBSV returns a death indicator. CBSV does not verify an individual's identity."

    Appreciate your thoughts. Thanks for helping to educate the editor!

    Warm regards,
    Lisa

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    Lisa Hochgraf
    Senior Editor
    CUES
    lisa@cues.org
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