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To: Rarebird who wrote (56424)	7/19/2000 7:13:35 AM
From: long-gone	Read Replies (2) \| Respond to of 116816

Last time the Treasury was pushing this we got a gold pop because people don't want "them" knowing about their every penny(it's back): Paul Renews Fight for Banking Privacy Proposed Legislation Grants Dangerous Power to Federal Regulators Washington D.C.- Congressman Ron Paul is once again leading the fight on Capitol Hill against assaults on consumer financial privacy. H.R. 3886, the International Counter-Money Laundering Act of 2000, violates financial privacy, grants overly broad, discretionary power to the executive branch, and may result in a less focused law enforcement strategy with fewer prosecutions. Paul, a member of the Banking committee, is known for vigorously leading the successful opposition to "Know Your Customer" regulations proposed in 1998 by federal banking regulators. Know Your Customer regulations would have required U.S. banks to profile their customers, monitor transactions, and report "suspicious" activity (based not on one's banking habits but on geography, income, etc.- i.e., what one's habits should be!) to Treasury Department criminal investigators. Paul was outspoken in his opposition to the proposals, which ultimately were abandoned by the administration after the Senate voted unanimously to reject them. Financial regulators received over 300,000 angry comments as a result of the opposition generated by Paul and other privacy advocates..... .... SNIP .... Read the rest of this press release at house.gov