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Wed 29 Sep, 2004 11:07 am
where even applying for credit is a cause for National Security red flags
I received a 100% guaranteed approval Visa card offer by email....here's a cut and paste of the fine print
* The USA Patriot Act is a Federal Law that requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. You will be asked to provide your name, address, date of birth, and other information that will allow us to identify you. You may also be asked to provide documentation as proof of identification. "100% Approval" and "No One is Turned Down is contingent upon successfully passing this mandatory identification confirmation.
I wonder how long before we have to give a blood and urine sample to obtain a library card?
How does one get a credit card under any circumstances without giving positive ID?
Good question, Larry. Makes you wonder why they needed to make a law about it. The law also requires that the bank ask questions regarding where you got your money and who your clients are -- if you happen to be opening a business account.
Just codifying it I guess.
And if you want to take 10,000 dollars or more from your account you must fill out a form and wait 24 hours.
Now wait a minuet. If YOU want to take $10,000 out you have to explain your self. If Warren Buffet want to move that kind of pocket change around, all he has to do is write the number on the screen and press a button.
Yeah, well, rich people are SUPPOSED to have money.
My best hope for America is that it's too big, too diverse, and there are too many checks and balances:
http://story.news.yahoo.com/news?tmpl=story&u=/nm/20040929/ts_nm/rights_patriot_dc
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