Thursday, November 01, 2007

Patriotic Banking

There are some things in my life that I am a control freak about. One big thing is my finances... The area I'm freakish over, isn't the spending and that kind of thing, it's just knowing where my money is, and being able to move it around as I see fit.

I currently have money with 2 Credit Unions. For those not sure what a Credit Union is... It's kind of like a bank, except it is member owned, so any dividends come back to the member. I have found the interest higher, the fee's non-existent, and I like their level of customer service.

Anyway, so a couple of times a month I'll sit down and do my bills. I'll set up the auto payments, transfer money from my savings to my checking, pay any other bills, double check my calculations, and generally by the end of the night, I've made 5 or 6 transfers back and forth to make sure all my accounts are in synch.

A few months ago while transferring a couple of dollars from my savings, I noticed that message saying that I had just completed a Regulation D transfer. Subsequent investigation revealed that it is part of a Government Program that tracks all my transfers and limits transfers from a Savings account to any other account (except loan payments) to 8 transfers a month. It was hard to determine if this is a plan on their part to encourage people to save, or if it has to do with the war on terror and trying to track money used to fund terrorists, but if I remember right I think it kind of tried to cover both.

For the NSA and CIA agents who read this post when it gets flagged for using the words terrorist, funding and government in the same piece of writing...

I'm not a freaking terrorist! I'm just a normal guy trying to manage his money and contribute to the American economy. Putting these restrictions in place makes it harder for me to save money, and why the hell are you concerned about my banking decisions when you can't even secure the Mexican border?

Regulation D is one of the dumbest pieces of legislation that the boneheads in Washington have passed recently.

America, land of the free - free to be abused by an out of control government that is...

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