Senate Democrats Pass Bill Allowing Govt to Collect Addresses, ATM Records of Bank Customers

CNS ^ | 5/21/10 | Matt Cover

[pissant]

Senate Democrats united to pass a financial regulatory bill that allows the government to collect data on any person operating in financial markets at any level, including the collection of personal transaction records from local banks, including customers’ addresses and ATM receipts.

The Senate voted 59-39 on Thursday to pass the bill – the chief aim of which is to more-heavily regulate the financial industry – sending it to a conference committee in the House of Representatives, where differences between the House and Senate versions will be ironed out.

The bill, if it becomes law, will create the Bureau of Consumer Financial Protection and empower it to “gather information and activities of persons operating in consumer financial markets,” including the names and addresses of account holders, ATM and other transaction records, and the amount of money kept in each customer’s account.

[highlander_UW]

I'm pretty sure my mattress is more secure than the bank. The pittance of $$$ I do have......Uncle Scam may just decide that it is more trouble than its worth. On another thread I contemplated the humor of draining my account via atm $20 at a time...... just to make them wonder. Maybe even cash a bunch of $1 checks. At least it will give the bean counters something to do and delay them from checking into your account.

Might I suggest, instead of $1 checks, make it something like $1.37...let them wonder why the odd number.

[mo]

You got it.

[ridesthemiles]

Scott Brown:

What part of this bill did you NOT understand?

Or did you even bother to READ the bill?

What a disappointment.

[GalaxieFiveHundred]

...cash a bunch of $1 checks. At least it will give the bean counters something to do...

Now you're talkin'!

[Repeat Offender]

Here in NEW YORK, we can’t order ammo over the internet!

Here in Virginia, you can even take the firearms safety course over the internet for your CCW permit.

Granted, we shouldn't NEED a permit to exercise our 2nd Amendment rights, but at least they made it easy for us.

BTW, for those interested (and able to) atlanticfirearms.com is offering 1000 rnds of Wolf 7.62x39 for $269 with free shipping and 1120 rnds of Yugo for $259 with free shipping. (no, I am not affiliated with them except as a customer)

[Texas Fossil]

Bureau of Consumer Financial Protection and empower

Pure Double Speak (total lie)

[kempo]

Does this mean your bank account becomes a matter of public record? Like anyone can find out how much money you have, and how much you spend, and on what?

[Buckeye McFrog]

so.....if we all start doing like 50 Balance Inquiries a day, we can cause their entire system to crash and implode?

[FES0844]

Will they start with the Swiss bank accounts?????

[HuntsvilleTxVeteran]

Politicians and diapers should be changed often and for the same reason.

[Soul Seeker]

okay...may be time to take everything out of my acocunt then...

[sam_paine]

Orwell is out there somewhere smiling right now and saying, “I warned you”.

If you knew anything about the life of Eric Blair, you'd know that if he was out there now he'd be frowning like hell, not smiling about anything of this.

[BenKenobi]

‘It would be ironic if people, while attempting to avoid big brother, shift to cash and the banks will have less deposits, thus less money to lend and the dems have yet again impacted the economy negatively with their totalitarian schemes.’

I’ve been transferring to cash, for at least 3 years now. I don’t keep anything more than 100 CDN for longer than a day or two.

I don’t trust the banks to take care of my money. I consider it part of going Galt.

[phredo53]

Bureau of Consumer Financial Protection and empower Pure Double Speak (total lie)

I see you're on to the game. If you want to know what any bill is really about just insert the opposite of the key words in the title. Very simple. Consumer Financial Endangerment is the proper name for this one. Some obvious ones are: Homeland Insecurity, National Deeducation Assc., Social Insecurity. The list is a long one.

[CRBDeuce]

banks will have less deposits, thus less money to lend

American ' banks will have less deposits, thus less money to lend '. Foreign banks will have more deposits, thus more money to lend. Congress, simply creating more American layoffs...it's record in destroying industries is intact. All while 'exporting' its tax base!

[maine-iac7]

I'm an old granny - not much income (soc. Sec actually)

But for decades, I only leave a set amount in bank: that needed for the months fixed bills.

The rest, I take in cash. Simply stubborn about anyone having a record of my movements and spending habits, like:

Where did you get gas and how much. (tracking your movements and they intend to ration gas - they will determine how much you need to move about.)
What do you eat (your grocery slip lists the foods you buy - and the gov’s is fast becoming the food police)
what books, magazines do you buy/read: (what is your political stance)
etc etc
They'd be bored still at my activities - but IT'S NONE OF THEIR BUSINESS.

[GraceG]

“The more you tighten your grip the more systems will slip through your fingers.”

I heard that in a movie recently.

[TrueFact]

...AND what about the government’s less-than-stellar ability to prevent data losses from hackers???!!!

[maine-iac7]

It would be ironic if people, while attempting to avoid big brother, shift to cash and the banks will have less deposits, thus less money to lend and the dems have yet again impacted the economy negatively with their totalitarian schemes.

These socialists have planned on getting rid of cash for decades - watch for that movement soon -

[drypowder]

Forcing us to use cash once again.