My article: http://www.wired.com/news/news/politics/story/16749.html > >This From: WorldNetDaily, December 23, 1998 >http://www.worldnetdaily.com > > >BIG BROTHER BANKING >Record response to 'Know Your Customer' >FDIC receives more than 6,000 comments >http://www.worldnetdaily.com/bluesky_exnews/19981223_xex_record_respo.shtml > >By >Gabrielle Stevenson >� 1998 WorldNetDaily.com > >The process for reading comments on the Federal Deposit Insurance >Corporation's "Know Your Customer" proposal has already started because of >the increasing number of responses. At last count, the FDIC had received >6,019 responses to the plan. >The most comments received in the past was 3,498, regarding a 1984 broker >deposit regulation. > >"Usually we don't get nearly as many," said the FDIC's David Barr. >"Sometimes we only get a 100 or so, and they can be read relatively quickly >for internal use." > >Normally the FDIC doesn't read the responses until the comment period has >ended. This time, however, they are trying to get a head start. > >"We are trying to see what people are saying," Barr said. "We have gone >through them at least once so far. We do keep them all in consideration. >That is what this whole process is all about." [...] > >Some of the growing debate has mentioned Congress as a means to end the >proposal. Barr acknowledged Congress' potential role. > >"Congress can play a very large hand in this process," he said. "They are >the watchdogs. There has already been testimony (on Know Your Customer) once >that I know of." > >Congress did discuss the newer version of the Bank Secrecy Act in June >during the hearings for the Money Laundering Deterrence Act of 1998. > >"Congress is very big in the makeup of the way we make potential >regulations," Barr said. > >After the comments period ends March 8, 1999, the FDIC will decide what to >do with the proposal. It can re-write it, send it to the FDIC Board of >Directors as it reads now, or it can be thrown out. > >"It is still just a proposal," Barr said. > >Comments on the proposed rule should be directed to Robert Feldman, >Executive Secretary, attention: comments/OES, FDIC, 550 17th street, NW, >Washington, DC 20429. Comments can also be faxed to (202) 898-3838 or >e-mailed to [EMAIL PROTECTED] > > >� 1998 Western Journalism Center > >------------------------------NOTICE:------------------------- >In compliance with Title 17 U.S.C. section 107, this material is >distributed free without profit or payment for non-profit research >and educational purposes only. >-------------------------------------------------------------- > >The Libertarian Library at >http://www.cyberhaven.com/libertarian/ > > -------------------------------------------------------------------------- POLITECH -- the moderated mailing list of politics and technology To subscribe: send a message to [EMAIL PROTECTED] with this text: subscribe politech More information is at http://www.well.com/~declan/politech/ --------------------------------------------------------------------------
