Miscellaneous - http://maxpages.com/starfire7s/CONSUMER_ALERT_PLEASE

In 1998, a "Know Your Customer" banking Bill was defeated in the House of Representatives. The federal government, namely the FDIC and Treasury, quietly took the regulation and decided to implement it without congressional approval. It has silently made it's way to the public comment phase, and very few people (including many of your representatives, bank employees, etc.) are even aware it's out there. If implemented, this regulation will have a significant and far reaching affect on your everyday life.

Here are a just few of the highlights of the proposed Know Your Customer regulation. I've included a link below that has all the details (this is only the small part of the regulation).

* Bank customers (you) will be required to reveal all sources of revenue (income) that you deposit in the back. Accounts will be monitored to evaluate actual deposits compared with projections. You must provide them with your projected income and sources.

* Banks will establish profiles, classifications, and categorizations on every person who has an account based on information supplied by the customer (you) and other gathered information. All customers will be compared against the subjective classifications. Perceived anomalies in deposits or withdrawals (that means any time your spending habits change, even for a day) will be reported as suspicious activity. In short, the bank or credit union will establish a baseline for you that identifies when and how you usually receive and spend your money. If you normally
withdraw $100 from the ATM every Friday night, that will be part of your profile.

* If you decide one Friday to withdraw $700 for a weekend trip or to make a purchase, you will have deviated from your normal spending pattern, and the bank will be required to file a suspicious transaction report to the federal government.

* Banks are prohibited from informing customers when suspicious transaction reports have been filed on them.

* If you do not volunteer to be identified, you will be denied all banking services.

If you believe in your 4th Amendment right privacy, I urge you to read the specifics below, and contact the agencies listed at the bottom of this message with your strong objections. This is your only chance to stop the regulation. Public comments will only be accepted through March 8th.

The complete details of what the regulation includes-it's worth your time to read it:
Click here: FDIC Know Your Customer Summary from AOL or,
http://www.networkusa.org/fingerprint/page1b/fp-kyc-summary.html

Comments will be taken from the public by these agencies until March 8, 1999.

Federal Deposit Insurance Corporation Robert E. Feldman
Executive Secretary
Attention: Comments/OES
comments@fdic.gov

Department of the Treasury
Manager, Dissemination Branch
Information Management and Services Division Office
of Thrift Supervision
public.info@ots.treas.gov

Department of the Treasury
Communications Division
Office of the Comptroller of the Currency >
regs.comments@occ.treas.gov

If your so inclined, find out who your Representatives are, and e-mail your concerns to them as well.

Starfire7s@aol.com

Smile......Jesus love you!

Starfire7s@aol.com

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Page Updated Mon Mar 15, 1999 12:36am EST