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#12
09-29-2006, 11:52 PM
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Re: SUMMARY OF THE BILL (SUPER-QUICK READ)
[ QUOTE ]
Someone please tell me I'm an idiot. [/ QUOTE ] I don't think that you are an idiot. I think that anyone and everyone that had anything to do with this language being inserted into a port security bill is an idiot. But that's beside the point. [ QUOTE ] is it possible that the authors weren't using the correct terminology and actually intended for URLs to be blocked? I mean, removing text-links... How stupid is that? [/ QUOTE ] I think that you are right in that the original intention was probably to block URLs and not remove hyperlinks. However, this may be a loophole, and not something to be feared. Others more in the know may have to chime in here. 
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#13
09-29-2006, 11:53 PM
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Re: SUMMARY OF THE BILL (SUPER-QUICK READ)
[ QUOTE ]
it looks like 270 days (see page 231 of the full text pdf), but just take this is an educated guess until one of the people that reads these bills for a living chimes in. [/ QUOTE ] Thank you. However, to me, that seems like it must be done BY the 270th day. So, in fact, transactions could be blocked on any day from day 1 to day 270. What's the earliest GW can get this signed and passed? Me confused. [censored].
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#14
09-29-2006, 11:53 PM
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Re: SUMMARY OF THE BILL (SUPER-QUICK READ)
It will be law as soon as it is passed by the House and Senate and signed by the President. The regulations specifying the obligations of financial institutions will be promulgated within 270 days after that. I would guess that it is unlikely that financial institutions will start blocking transactions before those regulations are finalized, but you never know. There are also other provisions in the Act that could, at least theoretically, be effectuated immediately, e.g., the ISP blocking.
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#15
09-29-2006, 11:53 PM
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Re: SUMMARY OF THE BILL (SUPER-QUICK READ)
[ QUOTE ]
Up to 270 for the feds to put out regulations. [/ QUOTE ] does this mean they could begin enforcing it as early as tomorrow? i know in maryland legislation, there is always something at the end saying when the bill will take effect. does that not exist here?
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#16
09-29-2006, 11:55 PM
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Re: SUMMARY OF THE BILL (SUPER-QUICK READ)
[ QUOTE ]
Up to 270 for the feds to put out regulations. [/ QUOTE ] maybe this isn't an answerable question, but how much of the 270 days do we expect it to take before it goes "into effect"? and will it go into effect all of a sudden or will we know beforehand? edit: i mean the banking parts.
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#17
09-30-2006, 12:02 AM
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Re: SUMMARY OF THE BILL (SUPER-QUICK READ)
[ QUOTE ]
[ QUOTE ] Up to 270 for the feds to put out regulations. [/ QUOTE ] maybe this isn't an answerable question, but how much of the 270 days do we expect it to take before it goes "into effect"? and will it go into effect all of a sudden or will we know beforehand? edit: i mean the banking parts. [/ QUOTE ] This is my main concern/question as well.
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#18
09-30-2006, 12:07 AM
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Re: SUMMARY OF THE BILL (SUPER-QUICK READ)
I assume that the Fed's regs on this will go through the standard "notice and comment" rulemaking procedure. Which means that they'll publish proposed regulations in the Federal Register and then accept comments for some specified time, before finalizing the regulations. 270 days is quite tight for that whole process, especially because it seems like the issue is a contentious one with the banking industry. I'd be pretty surprised if a final "rule" with the regulations was passed much before the 270 day time limit (and sometimes these things drag on beyond the statutory deadline).
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#19
09-30-2006, 12:12 AM
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Re: SUMMARY OF THE BILL (SUPER-QUICK READ)
[ QUOTE ]
I assume that the Fed's regs on this will go through the standard "notice and comment" rulemaking procedure. Which means that they'll publish proposed regulations in the Federal Register and then accept comments for some specified time, before finalizing the regulations. 270 days is quite tight for that whole process, especially because it seems like the issue is a contentious one with the banking industry. I'd be pretty surprised if a final "rule" with the regulations was passed much before the 270 day time limit (and sometimes these things drag on beyond the statutory deadline). [/ QUOTE ] so it sounds like this will all be out in public and my bank won't all of a sudden decline my EFTs a week from now. i'll be ecstatic if we get 8 months. i hope you're right.
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#20
09-30-2006, 12:13 AM
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Re: SUMMARY OF THE BILL (SUPER-QUICK READ)
[ QUOTE ]
[ QUOTE ] I assume that the Fed's regs on this will go through the standard "notice and comment" rulemaking procedure. Which means that they'll publish proposed regulations in the Federal Register and then accept comments for some specified time, before finalizing the regulations. 270 days is quite tight for that whole process, especially because it seems like the issue is a contentious one with the banking industry. I'd be pretty surprised if a final "rule" with the regulations was passed much before the 270 day time limit (and sometimes these things drag on beyond the statutory deadline). [/ QUOTE ] so it sounds like this will all be out in public and my bank won't all of a sudden decline my EFTs a week from now. i'll be ecstatic if we get 8 months. i hope you're right. [/ QUOTE ] If we have a definite 8 months I'm quitting my job.
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