Man o man. You'd need a lot of insurance to be a director on a board of a bank now a days. This should increase the cost of doing business as a bank, too. All of which has to be pasted on to bank customers. Government may be trying to show it cares about banking customer's privacy, but not as far as the government is concerned. The government wants banking customers to have less and less privacy from the government. >From Bruce Schneier's CRYPTO-GRAM: > New Bank Privacy Regulations > > > > There are some new (proposed) interagency guidelines for protecting > customer information. Near as I can tell, "interagency" includes the > Office of the Comptroller of the Currency (Treasury), Board of Governors of > the Federal Reserve System, and Office of Thrift Supervision (also > Treasury). If you're a bank, this is a big deal. Ensuring the privacy of > your customers will now be required. > > Here are some highlights of the proposals: > > The Board of Directors is responsible for protection of customer > information and data. > > The Board of Directors must receive reports on the overall status of the > information security program, including materials related to attempted or > actual security breaches or violations and responsive actions taken by > management. > > Monitoring systems must be in place to detect actual and attempted attacks > on or intrusions into customer information systems. > > Management must develop response programs that specify actions to be taken > when unauthorized access to customer information systems is suspected or > detected. > > Staff must be trained to recognize, respond to, and where appropriate, > report to regulatory and law enforcement agencies, any unauthorized or > fraudulent attempts to obtain customer information > > Management must monitor, evaluate, and adjust, as appropriate, the > information security program in light of any relevant changes in > technology, the sensitivity of its customer information, and internal or > external threats to information security. > > These rules are an addition to something called Regulation H. Regulation H > is an existing section of legal code that covers a variety of stuff, > including the infamous "Know Your Customer" program. > > Proposed rules: > <http://www.bankinfo.com/062600.txt> > > Comments on the proposed rules: > <http://www.ots.treas.gov/docs/48150.html> > > Some other privacy regulations that went into effect on 13 November, with > optional compliance until 1 July 2001: > <http://www.bankinfo.com/060100.pdf> --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
