<< <i>Absolutely. The Liberals will stop at nothing to condemn this act which is the best one to come along in years. I lived in Florida for quite a few years, and the banks ther can be very anal retentive, so I can see them coming up with some of these rules in house and passing the reason off on some government rules. Change banks! I've just deposited $26,000 in cash and had no troubles at all. >>
But are you familair with the BSA and the compliance guidelines?
Read the first paragraph on top of page 28 of the BSA handbook. Check out the 'suspicious activity' reporting guidelines, too. Nearly anyone/everyone using banking services could fall under scutiny. It's scary stufff.
Dunno..... I worked for a major bank in DE for 18 years, then a major bank in FL for another 7. The rules simply make an additional requirement that basically any entity that works with cash, report suspicious activity. There is no specific description of suspicious outside of a few common sense items, so unless someone was acting really wierd, no one is going to bother, and up until this idiotic story, no one has. The $10,000 limit and the Form 8300 has been around for a decade and had nothing to do with the Patriot Act. This bank has gone way overboard and is wrong on several points. Their business customer had an account there, and was well known. This might even allow the business customer the exemption, and it should. No suspicious activity was at play by any streatch, as the banks business customer and their business dealings were well know to the bank. The bank it seems was trying to do what was required of the business customer in that they were attempting to collect the business customers customer information which was none of their business. If the banks business customer knew their customer well enough to feel that no suspicious activity was at play, then no reporting or restrictions were required what so every under the rules, by either the bank or the banks business customer. So the bank was wrong, and I'd run for the hills to a different bank as fast as my legs would move me.
<< <i>Absolutely. The Liberals will stop at nothing to condemn this act which is the best one to come along in years >>
I'm super-conservative and SUPER opposed to the so-called "Patriot Act." Empowering police by truncating our civil liberties is not the way to go. Empower law enforcement by reforming the legal system that throws out convictions by the dozen on technicalities. What's funny is that conservatives are supposed to want smaller government and more personal freedom. Interesting to see these so-called conservatives defending a law that gives the government far more invasive power than before.
I heard they were making a French version of Medal of Honor. I wonder how many hotkeys it'll have for "surrender."
This is the same old paranoia that has been discussed in at least three other threads over the last couple of years. Good banks don't spy on their customers and only report truly suspicious activity. If your bank is giving you a hassle depositing amounts of cash under $10k, I suggest finding another bank.
My local bank won't even accept rolled coins unless you have name, account number, and date on the roll (how's that for protecting your privacy?)...The wait for checks to clear grows longer and longer, and the number of competent tellers is always in inverse proportion to the number of customers waiting in line (during your lunch break)! In my opinion, the Patriot Act is another coup by our federal government to usurp wholesale rights under some meaningful and needed responses to 9/11.
It's discouraging as a coin collector to realize that the government is severely restricting part of the historical open commerce doctrine implicit in capitalism, and at the same time "capitalizing" on their Mint sales, their trade policies, and their unending attempt to force us to comply with their programs. In other words, when you collect/deal in actual money, the government doesn't help (unless you can influence business interests nationally and can always add extra zeros to a government contract bid).
Comments
<< <i>Absolutely. The Liberals will stop at nothing to condemn this act which is the best one to come along in years. I lived in Florida for quite a few years, and the banks ther can be very anal retentive, so I can see them coming up with some of these rules in house and passing the reason off on some government rules. Change banks! I've just deposited $26,000 in cash and had no troubles at all. >>
But are you familair with the BSA and the compliance guidelines?
Read the first paragraph on top of page 28 of the BSA handbook. Check out the 'suspicious activity' reporting guidelines, too. Nearly anyone/everyone using banking services could fall under scutiny. It's scary stufff.
<< <i>Absolutely. The Liberals will stop at nothing to condemn this act which is the best one to come along in years >>
I'm super-conservative and SUPER opposed to the so-called "Patriot Act." Empowering police by truncating our civil liberties is not the way to go. Empower law enforcement by reforming the legal system that throws out convictions by the dozen on technicalities. What's funny is that conservatives are supposed to want smaller government and more personal freedom. Interesting to see these so-called conservatives defending a law that gives the government far more invasive power than before.
It's discouraging as a coin collector to realize that the government is severely restricting part of the historical open commerce doctrine implicit in capitalism, and at the same time "capitalizing" on their Mint sales, their trade policies, and their unending attempt to force us to comply with their programs. In other words, when you collect/deal in actual money, the government doesn't help (unless you can influence business interests nationally and can always add extra zeros to a government contract bid).