Quote:
Originally Posted by Masterchief
Patriot act doesn't have much to do with terrorism in regards to banking.
in reality it's just something that gives them a reason to pull your credit report so that when you do something like open a savings account they can also sell you a mortgage, auto line, credit cards and etc.
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actually...i encountered this 'patriot act' new banking law/procedure with our bank when i was trying to setup wire payments for our program prior to our merger with NS. I wanted to be able to call in or at least fax/email wire instruction payments for our payouts and the bank manager told me because of the patriot act, outgoing wire had to be 'pre-approved' and we needed to fill out a form for each outgoing repetitive wire. That was a while ago, not sure if the manager was full of shit or standard procedure at that time..