FDIC "Know Your Customer" Rule

Carl Root rootfamily@erols.com
Sun, 14 Feb 1999 09:09:04 -0400


Browse through the text of the proposed legislation.  The only reference
to a specific dollar amount was to $10,000 cash transactions.  I
wouldn't worry about $500 gifts, even if they are atypical.

www.tidesofchange.org/fulltext.htm


If you use a debit card and maintain the bank's minimum required
balance, you're being subsidized by others that overdraw their accounts
and overcharge their credit cards.  Is that fair?  Maybe. 

It all comes down to recognizing and charging for ALL your services to
cover ALL your operating costs.  Banks do; we should.

Carl Root, RPT
Rockville, MD


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