I wanted to share a portion of a letter I received in the mail...

I recently applied for an online brokerage account. During the (online) application process, I was asked if I would like to have a "bank" account in whick to keep the unused cash. I put "yes" and entering LOTS of information. Yesterday I received a letter from that bank stating that they could not verify my current address as valid and that they could not verify my telephone number really belonged to me. I moved recently (about 2 1/2 months ago) and have not updated my address and phone number with everyone yet. Also, my street was renamed about 2 years ago and is listed three different ways - abreviated name with post office, long name with credit bureau, and old street name with taxing authority (not looking forward to having to sort that out come tax time...).

Well, the letter says that to open an account I have to provide 4 things:

- copy of driver's license
- copy of utility bill
- copy of social security card
- "Original, signed and notarized Affidavit of Identity (enclosed)"
"(No faxes please)"

The affidavit requires that I swear to my name, social security number, and driver's license number, state of issuance and expiration date.

HOLY SMOKES!!!!

I'm not gonna say the name of the bank, but crimony, does anyone else think this is a bit much? I'm applying for a checking account (that they solicited ME for, if I may add), not a jumbo mortgage equity line of credit with wiring priviliges to foreign countries.

Yes, this is a rembling rant, and no, I'm not asking anyone to back me up. But it sure is is frustrating...


And I'm really looking forward to the "Friday" threads to start up.

Thanks for letting me rant...

This is only start of the customer complaints, as the public has no real idea what laws have been passed and how they are going to be impacted by them.

If it were me, I think I would prepare a nice brief form letter which cites the law, and leaves the bank with no choice but to comply. I would also list the address where the customer may voice their complaint.

Welcome to the new world order. In the emotion of the moment a year ago we threw logic and reason out the door. Next up? Completely nude screening to get on an airplane. I already have to put half my wardrobe on the x-ray machine now.

In a small airport, which I won't name, you have to take off your shoes and run them through the x-ray machine.

Concerning the new CIP, I asked my 77 year old mother what she thinks about this. She told me it wouldn't bother her to have to give information and have her Driver's License copied. I think if the customers realized what this is all for it would certainly help.

I also think that maybe you wouldn't have needed so much ID information if you had been at the bank in person. Then you would have explained your address change and they probably would have gotten you processed with another ID, say, a credit card.

I rant alongside you all, my brothers and sisters! This is going to be one big pill for my staff to swallow and I am not the most popular person at my bank right now!

In response to:

"I think if the customers realized what this is all for it would certainly help."

What is it all for? Out the billion or so accounts opened, how many terrorists is this going to stop? Even the latest "cell" that they uncovered, what would all of this prevented. Now that they have these guys identified, do you think the banks would have any more information about these guys then they already do? We already ID our customers. If they are good, they are going to have fake ID's anyway.

I've had to lose my shoes and my belt on more than one occasion and not only in small airports. After one screening in which we had to go shoeless, a guy turns to me in the tarmac and whispers, thank god that guy didn't try to smuggle that bomb on the plane in his underwear.

OK - rant over.

RANT WARNING

Bill Moyers' program "NOW" on PBS the other night addressed the issues in the USA PATRIOT Act. It was stated in the program the most of the Congressmen and women who voted in favor of this act (All except 1) had not read it. This was the law enforcement wish list that has been on the back burner for years and they took advantage of the fear and emotions of the moment to get what they have been asking for all along. How could "good" law come from such an environment? You don't have to be a suspected terrorist for them to go into your home without your knowledge and search it secretly. This is part of the act. This is in direct violation of our Bill of Rights. This may be a big help to law enforcement, but it certainly goes against the principles upon which this country was founded. Some of our congressional leaders are having second thoughts - now that the moment has passed and their constituents are screaming at them. Perhaps some of the damage can be undone and a compromise legislation that is both consistent with American standards and favorable to law enforcement can be passed.

Louvera your're right on. I remember my parents warning to "always look before you leap". It appears that is exactly what our "elected elite" have done and boy did they ever land on their heads. This goes back to what many Americans are saying that, "those folks in Washington are too far removed from the real world". Unless we start to exercise our rights to vote responsibily we'll end up with the same old tired worn-out politicians who are geting rich off our backs. Yea! Yea! Hey, is it Friday yet!!

In reply to:

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boy did they ever land on their heads

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Correction, we are the ones with the headaches.

I agree with anonymous, we do need to exercize our right to vote responsibly. I know it is hard to find the time to uncover the voting records of the politicians but we need to try. Especially the judges. I am not saying I do the best job but I hope I try.

Take your shoes off at a small airport? I take them off and send them through the xray at all airports. Saves the bomb squad search of my heels!

I travel alot! My favorite line heard in airport security...

"May I touch your breasts?"

(I was wearing my rotary pin and had forgotten it was on my collar...apprently that meant I had a bomb in my bra to this security gal).

Of course they said nothing about the 20 3 incho long needles in my carry on I use for beading...nor the antique hat pins I had on my lapel (gold, about 5 inches long...sharp).

They did however look at my id Did I mention my name has changed and the ID name is different from the ticket issued name?

Have I digressed from the orginial rant? LOL

Happy friday!

The best line I've ever heard at airport security (pre-9/11) was, "Please take all snuff cans out of your pockets."

...Only in Amarillo, Texas!

Wow, I really had no idea how much was packed in this Act. Interesting though, the politicians are now wondering if they did the right thing. Only because they know the public is going to scream once they find all this out. Hang on as the old baseball saying goes "It ain't over til it's over"

And for those of us who have stayed up late for those 14 inning ball games (only to watch our teams lose), we know it could be a llllloooonng while!!

I would guesstimate that civil liberties were set back 5 to 10 years in the name of 9-11. Between the USA PATRIOT Act and the FBIs control list and their Carnivore Net sniffer and the imprisonment of those categorized as POWs.

I won't say that it was all right, or all wrong. I have said this before, if there are no other actions that justify what was done, history will not be kind to the lawmakers of 2001.

As a quick follow-up...

The brokerage account was opened fine. I asked the company about the "bank" and was told that they aren't even affiliated. That makes it even easier to ignore the bank's request for all the extra documentation. Plus, notaries aren't free around here.

Most brokerages offer a checking-like account, and have for
decades. Merrill Lynch has the Cash Management Account, Schwab has Schwab
One.

They provide checks and a debit-Visa card, and will wire transfer
funds presumably anywhere. Merrill's CMA will allow checks to be
deposited which are not made payable to Merrill but to the account name. Sign on the back
and write the account number, just like depositing to a standard
checking account.

I don't know if this policy has recently changed, but I believe it
is unchanged for the last 10+ years.

The online banks which ask for voluminous info including utility bills
are needlessly invading your privacy. Don't assume that you
were singled out because the way the post office spells your street
name. On the contary, assume that EVERY APPLICANT, no matter
their credit history or traceability is subjected to the same invasive
process.

They get away with it because they are largely anonymous, there is the
presumption that online systems could be used to assist drug
dealers and terrorists, and many customers are easily intimidated into
trying to prove their innocence.

Keep in mind, if you sent all of the requested info, you would have no
idea where it was stored, who had access to it, or how you could ever
have it purged from their files.

The fine print of their privacy policy may well say that you should not
presume any level of security, privacy, or rights to recover for
consequent damages.