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To: Bucky Katt who wrote (4565)	3/24/1999 4:22:00 PM
From: gamesmistress	Respond to of 57584

Flood of E-Mail Credited With Halting U.S. Bank Plan By REBECCA FAIRLEY RANEY Though e-mail has historically been viewed as ineffective in influencing government, Federal bank regulators withdrew a proposal on Tuesday to monitor individuals' bank transactions because of hundreds of thousands of e-mail messages that protested the proposal, federal officials said. From early December to mid-March, the Federal Deposit Insurance Corporation (FDIC) received 257,000 comments -- an unprecedented number for the agency -- on the proposed "Know Your Customer" policy, which would require banks to monitor customers' banking patterns and report inconsistencies to Federal regulators in the name of detecting potential money-launders. More than 80 percent of those comments, about 205,000, arrived by e-mail. About 50 comments favored the proposal. The FDIC's chairman, Donna Tanoue, said the huge volume of e-mail drove the decision to withdraw the proposal. That decision was reached in a meeting in Washington on Tuesday with the Board of Governors of the Federal Reserve, the Comptroller of the Currency and the Office of Thrift Supervision. complete article: nytimes.com