Libertarians FINALLY make a NATIONAL difference!!!!
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FREEDOM Watch
A look at what's new on "Project FREEDOM."
( house.gov )
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Issued: Tuesday, March 23, 1999
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NOTE: Rep. Paul will be a guest on CNN's Talk Back Live in the 3 pm (EST)
hour, discussing the situation with Kosovo.
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"Know Your Customer" regs withdrawn
Rep. Paul says action is a small victory for Americans everywhere
WASHINGTON, DC -- Facing heated protests from more than a quarter-million
Americans, federal regulators today announced they are withdrawing the
proposed "Know Your Customer" regulations that would have forced banks to
spy on American citizens. The agencies proposing the regulations were the
Federal Reserve, the FDIC, the Office of Comptroller of the Currency, and
the Office of Thrift Supervision
Leading the charge against "Know Your Customer" has been US Rep. Ron Paul
(R, Texas), the only member of the House's Committee on Banking and
Financial Services to oppose a blueprint of the plan the rest of the
committee endorsed in 1998.
"This has been a minor skirmish in the battle over privacy rights and the
protection of civil liberties, but it is a victory for which many people
have worked very hard," said Rep. Paul, who early this year introduced H.R.
516, to overturn the regulations if implemented. "I'm pleased so many
organizations and individuals were willing to stand up against these
agencies. Besides having an obvious effect on the regulators, their actions
helped convince some of my colleagues to change their position and oppose
this blatantly unconstitutional privacy violation."...
...<SNIP>...
Read the entire press release at:
house.gov
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