Re: A less optimistic article
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It's wrong about checks - we already know that the Banks won't have to check those
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Actually, no we don't. It's widely assumed, but it won't be known until the regulations come out. Checks are specifically prohibited in the law.
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One of my good girl friends works fairly high-level at the bank I use. She says rest assured, the banks really don't give a damn about this law, and won't. All that may happen is the code that some banks put for debit card transactions may be applied to what she said as "individual" sites. My one bank card hasn't worked on any site but UB in years. That bank has different policies.
The government isn't going to put any money towards enforcement, remember - this is just a rider on a LARGE defense bill. Most of your congresspersons haven't even READ this bill, much as they don't read hardly ANY of the bills.
If the government isn't going to put any money into the enforcement of it, you really think the banks will?
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