Every bank teller is now a government informer and everyone with a bank account is a criminal suspect. The Federal Deposit Insurance Corporation (FDIC), Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency, and Office of Thrift Supervision proposed a change to banking regulations in 1998 that would ensure banks and savings institutions have policies and procedures in place for screening transactions. Known as “Know Your Customer” programs, the federal regulatory agencies claimed they … Continue reading →