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Kiss your privacy goodbye… US Patriot Act to require banks to collect data on customers

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posted on Jul, 12 2003 @ 04:41 PM
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New federal regulations requiring banks to know that you are who you say you are will mean more work for them and could upset consumers worried about companies or the government keeping more information about them on file. The rules, which take effect Oct. 1, are based on the USA Patriot Act, and are designed to prevent terrorists or other criminals from using the U.S. financial system. They also may aid in the fight against identity fraud.

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