(no subject)

[James I. Dally]

Hello Newton:  I sent in re the petition but Ralph Regula doesn't accept
e-mail.  I'll call him.  Thanks, Jim Dally

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> "Know Your Customer" legislation was defeated not too long ago because
> many of us wrote letters to our congressman and senators requesting
> they do so.
> 
> Well, the FDIC is at it again, this time trying an end run around
> congress.  
> 
> If you are an independant piano tuner technician this will directly
> effect your Bank relationship.
> 
> Please read the following letter and take the action you deem
> appropriate for your situation.
> 
> 		Newton
> 
> I'm participating in an Internet campaign to repeal regulations from
> the
> federal government which will force your bank to spy on you, and I'd
> like
> to invite you to join me.
> 
> 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 your Representative in the U.S. House. Plus, a
> copy
> will be sent to both your U.S. Senators. 
> 
> In December 1998, the Federal Deposit Insurance Corporation (FDIC)
> proposed
> a so-called "Know Your Customer" rule. If enacted, Know Your Customer
> would
> have required 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 have forced your
> bank
> to:
> 
>   * Discover your source of funds
> 
>   * Determine your "normal and expected transactions"
> 
>   * Report any "suspicious activity" to federal investigators
> 
> However, in the face of overwhelming public opposition, generated in
> large
> part by an Internet campaign like this one, the FDIC withdrew their
> proposed Know Your Customer regulation. However, the battle isn't over
> yet.
> 
> It turns out that the Federal Reserve's "Bank Secrecy Act Compliance
> Manual" pressures banks to develop policies similar to Know Your
> Customer,
> policies that over 88% of banks have begun to implement. After the
> heat
> dies down, the Federal Reserve Board plans to repackage Know Your
> Customer
> as "policy guidelines" instead of "regulations".
> 
> The government claims it is trying to thwart money launderers and drug
> dealers. But what this law does 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. Know Your Customer doesn't need to be
> "repackaged" -- it needs to be repealed.
> 
> Congressman Ron Paul has introduced the Know Your Customer Sunset Act
> (HR
> 516) and the Bank Secrecy Sunset Act (HR 518) that together will
> repeal
> existing Know Your Customer reporting requirements, and prevent any
> new KYC
> rules from being implemented. Together, these two bills will guarantee
> that
> our financial privacy will be respected.
> 
> Over 250,000 outraged Americans flooded the FDIC with e-mails,
> letters, and
> faxes during Know Your Customer Round One -- and the FDIC backed down!
> Now
> we need to make sure Congress finishes the job by passing HR 516 & HR
> 518.
> 
> 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.