Feds Claim Right to Investigate You For Withdrawing Cash From Your Bank Account
Dave Gobson - 3/24/2015 - UFP News
Last week, U.S. Assistant Attorney General Leslie Caldwell, told some of the nation’s most powerful bankers that they should start contacting law enforcement when their customers withdraw a few thousand dollars of their own money.
During a conference in held in Hollywood, Florida, Caldwell said:
We encourage those institutions to consider whether to take more action: specifically, to alert law enforcement authorities about the problem, who may be able to seize the funds, initiate an investigation, or take other proactive steps.
And, exactly how much money are we talking about?
“$5,000 or more,” withdrawn in cash is now considered suspicious activity, according to the handbook for the Federal Financial Institution Examination Council.
The Federal Financial Institutions Examination Council is basically a shadow government agency formed in 1979, which is comprised of banking regulators, representing other federal agencies: The Federal Reserve of Governors, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Consumer Financial Protection Bureau.
The current voting members of the Council are:
- Chair, Thomas J. Curry, Comptroller of the Currency, Office of the Comptroller of the Currency
- Vice Chair, Daniel Tarullo, Member of the Board of Governors of the Federal Reserve System
- Martin J. Gruenberg, Chairman of the Federal Deposit Insurance Corporation
- Richard Cordray, Director of the Consumer Financial Protection Bureau
- Debbie Matz, Chairman of the National Credit Union Administration
- David J. Cotney, Commissioner of Banks, Commonwealth of Massachusetts Division of Banks
So, if you still believe that we are not living in a police state, remember that the next time you visit your bank to withdraw your own money to buy a used Hyundai, and instead, get a visit from the police.
Read more at http://universalfreepress.com/feds-claim-right-investigate-withdrawing-cash-bank-account/
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