Patriot Act Invades Banks

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posted on Oct, 2 2003 @ 06:52 PM
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Surprise... your on NWO TV... The Patriot Act for banking went into effect today. As a side note, I noticed that the bank I go to now has full color monitors in the line so you can see yourself on closed circuit tv.

Patriot Act kicks in at banks today


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Industry notes: Banking

By Jeff McKinney
The Cincinnati Enquirer

Beginning today, don't be surprised if you get asked more questions than usual where you bank if you try to open a new account.

That's because Oct. 1 is when commercial banks, savings banks, credit and brokerage firms and other financial providers must comply with rules of the Patriot Act.

The new federal law basically will allow financial institutions to ask more questions about you than previously if the entity thinks that's necessary for background purposes, industry consultants told Bankrate.com.

For example, new questions might involve other accounts that can be linked to the customer; the customer's business and job; tax status; and the customer's investment objectives.






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