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[OM] Way OT - FDIC regulation proposal

Subject: [OM] Way OT - FDIC regulation proposal
From: "John Petrush" <petrush@xxxxxxxxxxxxx>
Date: Mon, 22 Feb 1999 20:29:30 -0800
Please forgive the off-topic subject, but it has really jangled a nerve.  I
checked this out personally and it's no joke.  See
http://www.fdic.gov/banknews/fils/1998/fil98133.html and read it from the
source.  I have tried the URL listed below but have been unable to reach it
yet.  My guess is it is log-jammed.


Subject: Alert to Bank Spying Regulation


I'm participating in an Internet campaign to stop a regulation which would
require your bank to spy on you, and I'd like to invite you to join me.

We now have less than 20 days to contact the FDIC and demand that it kill
its
proposed "Know Your Customer" rule.  Please forward this message to any
friends, family, co-workers, neighbors, or other people you know who may be
interested, then go to http://www.defendyourprivacy.com and sign the
petition. It will be submitted directly to the FDIC.  Plus, a copy will be
sent to
your representative in the U.S. House and to both your U.S. Senators.

The FDIC's Know Your Customer rule would force banks to "monitor" your
checking and savings account and report any "unusual transactions" to the
federal government.  This frightening threat to your financial privacy would
force your bank to:

  * Discover your "source of funds"

  * Determine your "normal and expected
    transactions"

  * Report any "suspicious activity" to federal
    investigators

The government claims it is trying to thwart money launderers and drug
dealers.  But what this law will do is turn every bank teller into a
government informer and everyone with a bank account into a criminal
suspect.

In a free society, the government has no business asking where you get your
money or how you spend it -- and politicians have no right to force your
bank
to monitor your account.

But that's exactly what's going to happen, unless we can generate enough
opposition before the FDIC's comment period expires on March 8.  Outraged
Americans have already flooded the FDIC with over 20,000 comments against
the
Know Your Customer regulation -- but the agency hasn't backed down yet.

Let's keep up the pressure.

Please forward this e-mail to everyone you know who might be interested in
helping, but please don't send it indiscriminately -- spam will only hurt
our
campaign.

Then go to http://www.defendyourprivacy.com and sign the petition.

Thank you.

John P
______________________________________
there is no "never" - just long periods of "not yet".
there is no "always" - just long periods of "so far".





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