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Thursday, May 20, 2010

FinReg bill: Violating privacy one bank account at a time

The bill goes on to mandate that customer addresses be geocoded for the collection of data on the census tracts of the residences or business locations of customers. The government is mandating that every cent any individual deposits will be linked to the census-based personal address of each customer and to their deposit at the corresponding financial institution. The bureau is permitted to share this data with whomever they wish.

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