Major alarm bells over this.
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@Axomamma @zackwhittaker If I remember right that became a thing because of the GWoT.
@ra6bit I read the article. It's an executive order, which is not a law. My only comfort is the Republican Congress is determined to do nothing. Unfortunately, when Dems have a majority, they may be cowed into passing such a law, ensuring they won't hold a majority for long. Wash, rinse, repeat.
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Major alarm bells over this. Bessent wants US banks to require customers send in copies of their passports etc. to prove citizenship, which would be far beyond the know-your-customer checks that they're required to do already. Implies this could result in closing bank accounts over non-compliance.
It's amazing how quickly Republicans flip-flopped on KYC laws when they learned they could abuse them to be super racist.
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Major alarm bells over this. Bessent wants US banks to require customers send in copies of their passports etc. to prove citizenship, which would be far beyond the know-your-customer checks that they're required to do already. Implies this could result in closing bank accounts over non-compliance.
@zackwhittaker if you want to stop crime close all the businesses accounts. Make one person come in and sign, that person is legally responsible in every way for that account. People aren’t the ones screwing over millions.
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Major alarm bells over this. Bessent wants US banks to require customers send in copies of their passports etc. to prove citizenship, which would be far beyond the know-your-customer checks that they're required to do already. Implies this could result in closing bank accounts over non-compliance.
@zackwhittaker
Bessent thinks everyone has a passport. Fucking clown. -
Major alarm bells over this. Bessent wants US banks to require customers send in copies of their passports etc. to prove citizenship, which would be far beyond the know-your-customer checks that they're required to do already. Implies this could result in closing bank accounts over non-compliance.
@zackwhittaker
Oye, tell Bessent to fuck off! -
@zackwhittaker
Bessent thinks everyone has a passport. Fucking clown.@darwinwoodka @zackwhittaker
Bessent thinks
- everyone needs a bank account and
- terror can not happen without a bank account. -
Major alarm bells over this. Bessent wants US banks to require customers send in copies of their passports etc. to prove citizenship, which would be far beyond the know-your-customer checks that they're required to do already. Implies this could result in closing bank accounts over non-compliance.
Not good, banks can open accounts for non citizens currently.
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Major alarm bells over this. Bessent wants US banks to require customers send in copies of their passports etc. to prove citizenship, which would be far beyond the know-your-customer checks that they're required to do already. Implies this could result in closing bank accounts over non-compliance.
@zackwhittaker ah yeah, throwback to when I went to open a bank account with my father in law and they wanted to ask him about what he did for a living and how much money he made, he said he wasn’t going to answer, they said it was because they needed to “know their customer” and my FIL said “you don’t need to know your customer THAT much”
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Major alarm bells over this. Bessent wants US banks to require customers send in copies of their passports etc. to prove citizenship, which would be far beyond the know-your-customer checks that they're required to do already. Implies this could result in closing bank accounts over non-compliance.
@zackwhittaker we will not be sending anything not already sent. Full stop. There is no legitimate reason for it, and non public banks are an annoyance we have had to suffer long enough already. Ill cash and carry if I must. We will never allow this.
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Major alarm bells over this. Bessent wants US banks to require customers send in copies of their passports etc. to prove citizenship, which would be far beyond the know-your-customer checks that they're required to do already. Implies this could result in closing bank accounts over non-compliance.
@zackwhittaker banks will only do this if they get to keep some or all of the money.
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Major alarm bells over this. Bessent wants US banks to require customers send in copies of their passports etc. to prove citizenship, which would be far beyond the know-your-customer checks that they're required to do already. Implies this could result in closing bank accounts over non-compliance.
@zackwhittaker Does that include credit unions?
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Major alarm bells over this. Bessent wants US banks to require customers send in copies of their passports etc. to prove citizenship, which would be far beyond the know-your-customer checks that they're required to do already. Implies this could result in closing bank accounts over non-compliance.
Was there any word on holding the people in the Epstein files responsible for their actions?
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@darwinwoodka @zackwhittaker
Bessent thinks
- everyone needs a bank account and
- terror can not happen without a bank account.@Dahmonium @darwinwoodka @zackwhittaker Ted Kazynski did not have one.
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Major alarm bells over this. Bessent wants US banks to require customers send in copies of their passports etc. to prove citizenship, which would be far beyond the know-your-customer checks that they're required to do already. Implies this could result in closing bank accounts over non-compliance.
@zackwhittaker Bessent can fuck off.
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@zackwhittaker Since when is citizenship a requirement for a bank account?
It is not.
Currently.
Consider the people who have work visas. They need an account for their employer to deposit those paychecks in.
I think Bessent is displaying his ignorance here.
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Major alarm bells over this. Bessent wants US banks to require customers send in copies of their passports etc. to prove citizenship, which would be far beyond the know-your-customer checks that they're required to do already. Implies this could result in closing bank accounts over non-compliance.
This will go nowhere. Banks will sue, because this is overly burdensome.
