Privacy and the Patriot Act

Financial Independence/Retire Early -- Learn How!
Post Reply
TRyan
* Rookie
Posts: 40
Joined: Tue Dec 17, 2002 3:00 am

Privacy and the Patriot Act

Post by TRyan »

This is not good ...

http://cbs.marketwatch.com/news/story.a ... iteid=mktw


And, the bad news about the SAR is this: the bank is under no obligation to inform you that it has filed a SAR with the U.S. Treasury. And that can't be a good thing.

So, what if you decide not to provide the information requested or if your identity can't be verified? Well, the mattress starts to look better and better. According to the NASD, your firm may not be able to open an account or carry out transactions for you. What's worse, if your firm has already opened an account for you, they may have to close it.
"Buy Low Sell High"
User avatar
ataloss
**** Heavy Hitter
Posts: 559
Joined: Mon Nov 25, 2002 3:00 am

Post by ataloss »

what about foreign banks operating in the us?
Have fun.

Ataloss
Post Reply