Strictly speaking, if we assume he has been honest thus far, we all are under this problem. The issue would be with establishing the right AML etc. paperwork with a new bank. You just never had it before, either, so it shows up as pending verification or whatever. Naturally, given current circumstances, it wouldn't be worth his time to change all of our statuses to unverified probably, since it's all semantics at this point...

Anyway, if you work under the assumption he is not hiding something critical to this issue, yes, this could be considered "normal" at present, as ironic as such a statement sounds...