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Send the following letter of opposition against the FDIC's
Also send it to your Senators and Representatives in Congress.
Sample Letter Below - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - To: Robert E. Feldman, Executive Secretary or to whom it may concern Federal Deposit Insurance Corporation 550 17th Street, NW Washington DC 20429 I am opposed to the "Know Your Customer" regulation, and want it repealed. The government claims it is trying to thwart money launderers and drug dealers. But what this law would really do is turn every bank teller into a government informer and every American with a bank account into a criminal suspect. Whatever reasons behind the abhorrent regulation, the following, in my opinion, are undisputed: * In a free society, the government has no business even asking where you get your money or how you spend it -- and politicians certainly have no right to force your bank to monitor your account. This is the kind of thing you might have expected of the government of East Germany, China, or North Korea, but not in the U.S.A. * The "Know Your Customer" regulation amounts to an illegal, warrantless search that violates the Fourth Amendment. Monitoring every bank account to check for laundered money is no different from pulling over every driver just in case some are intoxicated, or searching every home to check for stolen goods. It is unconstitutional -- plain and simple. * The "Know Your Customer" regulation could subject your money to asset forfeiture. Asset forfeiture laws allow police to seize your car, your cash, and even your home without having to charge you with a crime -- and force you to go to court to get it back. Instead of being the safest place to store your money, banks could become the most dangerous place -- since Uncle Sam's bank robbers can seize it at will. * Like asset forfeiture laws and fingerprints on drivers licenses, the "Know Your Customer" regulation is another Prove-You're-Not-A-Criminal law. In America, we're supposed to be innocent until proven guilty -- not the other way around. * Most important, the "Know Your Customer" regulation cannot be reformed; it should be repealed! Respectfully submitted, - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |