Power Of Attorney Concerns

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Summary

Financial institutions often require additional information under the Patriot Act to verify identities. However, requests for details like income, net worth, education, and occupation may be excessive. Additionally, some institutions have their own Power of Attorney (POA) forms to meet specific requirements, but a legally valid POA in Georgia should generally be accepted. Consulting a local attorney can provide clarity and ensure your rights are protected.

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In Georgia as Agent I presented a Power of Attorney along with my driver's license .
Hello ****, what specific legal information or guidance do you need regarding your situation as an agent with a Power of Attorney?
In Georgia as Agent I presented the Power of Attorney along with my driver's license to an investment firm. They then wanted my social security number, mother's maiden name, my income, net worth, education, & occupation. Isn't this overstepping?
Under the Patriot Act, financial institutions, including investment firms, have to collect certain information to verify identities. However, information such as your income, net worth, education, and occupation seem excessive. You should question why they need this information.
In addition they wanted my principal to fill out one of their power of attorney forms. Why would they need to do that is the power of attorney I presented came straight out of the official code of Georgia?
Some institutions have their own POA forms to ensure they meet specific requirements or standards. However, if your POA is legally valid in Georgia, they should accept it. You might want to consult a local attorney for advice on this matter.