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| New "Proposed" Banking Regulations (Page 3/5) |
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randye
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AUG 28, 05:33 AM
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Where is the full text of this "proposal"?
Who proposed it?
Is it a bill already submitted and if so what is it's number ?
Is it in a banking and commerce committee in one of the houses of Congress?
A "proposal" like what is described here would certainly require legislation to change the Code of Federal Regulations that applies to the US Banking Regulations as well as the IRS tax code and as a consequence would require passage by both houses of Congress.
I checked the website at the link provided and it answered none of my questions either.
There are a lot of questions here with apparently no answers.
It would be great to discuss this IF there was something substantive to discuss.[This message has been edited by randye (edited 08-28-2021).]
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blackrams
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AUG 28, 06:04 AM
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| quote | Originally posted by randye:
Where is the full text of this "proposal"?
Who proposed it?
Is it a bill already submitted and if so what is it's number ?
Is it in a banking and commerce committee in one of the houses of Congress?
A "proposal" like what is described here would certainly require legislation to change the Code of Federal Regulations that applies to the US Banking Regulations as well as the IRS tax code and as a consequence would require passage by both houses of Congress.
I checked the website at the link provided and it answered none of my questions either.
There are a lot of questions here with apparently no answers.
It would be great to discuss this IF there was something substantive to discuss.
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Randye,
Wish I could provide you with more information, that letter is what I got and that's all I really know about it. Currently I've got other serpents to slay but if I learn anything else, I'll be happy to pass it on.
Rams
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theogre
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AUG 28, 01:29 PM
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Quote from Top Post... They likely mean this... Anti-Money Laundering Act of 2020 that is already Law because the Senate overwrote Trump Veto...
Congress Enacts the Most Sweeping AML Legislation Since Passage of the USA PATRIOT Act @ The National Law Review
The Big Problem is nearly Everything will soon be reported to the Feds...
And Isn't just a Money Grab issue.
So you gave $ or is member of X like NRA and other 2A orgs then the banks and Credit Cards reports that to Hard Left State and Feds under these new regs.
The City etc will make you the first people to search for guns when they "ban" them via High Taxes and other methods.------------------
Dr. Ian Malcolm: Yeah, but your scientists were so preoccupied with whether or not they could, they didn't stop to think if they should.
(Jurassic Park)
The Ogre's Fiero Cave
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MidEngineManiac
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AUG 28, 01:40 PM
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| quote | Originally posted by theogre:
The City etc will make you the first people to search for guns when they "ban" them via High Taxes and other methods.
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Learn to 3D print and make friends with a machinist.  ....Look up 3D2A
Or learn about alternative PDW's. Right now I am working on a full-size crossbow firing 6-inch pistol darts. THAT'LL leave a mark, and not even on the "ban radar" let alone in the works !
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maryjane
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AUG 28, 03:54 PM
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| quote | Originally posted by randye:
Where is the full text of this "proposal"?
Who proposed it?
Is it a bill already submitted and if so what is it's number ?
Is it in a banking and commerce committee in one of the houses of Congress?
A "proposal" like what is described here would certainly require legislation to change the Code of Federal Regulations that applies to the US Banking Regulations as well as the IRS tax code and as a consequence would require passage by both houses of Congress.
I checked the website at the link provided and it answered none of my questions either.
There are a lot of questions here with apparently no answers.
It would be great to discuss this IF there was something substantive to discuss.
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I haven't looked close but I believe it is part of the proposed "American Families Plan"...or at least that is what the 'talking heads' are indicating. Supposedly, it is to allow IRS to find people that under-report income, but like a lot of things that pop up on the internet, there doesn't appear to be anything real specific about it, just warnings that doom and gloom are soon to be upon us if (fill in the blank) .
The $600 specific quantity seems suspicious to me. Is it tied to the stimulus checks that the govt gave out earlier in the year? To the $3,600 child tax credit?
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randye
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AUG 29, 07:48 AM
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| quote | Originally posted by theogre:
Quote from Top Post... They likely mean this... Anti-Money Laundering Act of 2020 that is already Law because the Senate overwrote Trump Veto...
Congress Enacts the Most Sweeping AML Legislation Since Passage of the USA PATRIOT Act @ The National Law Review
The Big Problem is nearly Everything will soon be reported to the Feds...
And Isn't just a Money Grab issue.
So you gave $ or is member of X like NRA and other 2A orgs then the banks and Credit Cards reports that to Hard Left State and Feds under these new regs.
The City etc will make you the first people to search for guns when they "ban" them via High Taxes and other methods.
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OK
If it is a law that has already been passed then why is it being called "a proposal"?
If it is a law that has already been passed then why is a bank / chartered financial institution urging it's customer to contact anyone to protest it?
There are already numerous laws that require chartered financial institutions to report various movements of money by their customers, (i.e. IRA withdrawals are reported to the IRS and savings account cash deposits and withdrawals of $10k or more are reported the Department of the Treasury....I know because I have done both of those things a few times and received notification that the transactions were reported. )
I'm still not seeing any information on what the OP concerns.[This message has been edited by randye (edited 08-29-2021).]
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maryjane
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AUG 29, 08:46 AM
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| quote | | I'm still not seeing any information on what the OP concerns. |
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Same here.
I keep seeing it being alluded to, but nothing specific such as a House or Senate bill # or even specifics about it being part of another piece of legislation.[This message has been edited by maryjane (edited 08-29-2021).]
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blackrams
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AUG 29, 09:00 AM
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| quote | Originally posted by maryjane:
Same here.
I keep seeing it being alluded to, but noting specific such as a House or Senate bill # or even specifics about it being part of another piece of legislation. |
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Wish I knew more, I posted the email I received, that's all I know. Have had other dragons to slay so I haven't put a lot of effort into getting to the bottom of this.
Rams
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theogre
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AUG 29, 06:06 PM
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| quote | Originally posted by randye:
If it is a law that has already been passed then why is it being called "a proposal"? |
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Because This New Law Allows or Forces other things to happen... Like Obama Care. Or even the Clean Air Act and related that's still allowing EPA do to nearly everything the Green Left Wants w/ little or no proof EPA whatever rule actually works.
Example: Under the Open Ended CAA Law, EPA was able to forces MTBE then now Ethanol in Gas to "Reduce Air Pollution" and point to fake results as "Proof" that works... While Ignoring nearly all vehicles have some type of EFI and "DIS" now vs most Engines w/ Carburetors and mechanical distributors in the 60's 70's and early 80's. ("DIS" here is Full Electronic HEI, GM DIS that still used in some engines, any Coil on Plug systems, and all other ignition flavors that is under ECM/PCM control by all car makers.)
New Banking Law Forces new Policies for "Better" Anti-Money Laundering that must be made in next few months or year or two or even longer.
This is a Bogus Check to monitor nearly every Transaction under AML Label as reported to IRS and often State equivalent then "leaked" to nearly everyone.
In this case, AML Label is just "save the kids" in many other places that does little or nothing to the save kids.
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randye
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AUG 29, 10:57 PM
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| quote | Originally posted by theogre:
Because This New Law Allows or Forces......
New Banking Law Forces new Policies
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As much as I enjoyed that pointless stroll around the barn with you the question remains unanswered.
If it is an existing law then why is it being called a proposal?
If an existing law mandates future policies then neither the law nor the future policies are "proposals"
I'm STILL not seeing any substantive, credible, information on precisely what all this speculation concerns.[This message has been edited by randye (edited 08-29-2021).]
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