A new federal proposal would force banks to monitor your accounts for suspicious activity, and that means watching over every transaction. Banks would need to keep a file on you and your transactions, a proposal that is not sitting well with customers here in Oklahoma. Peter Holloway stops at the bank every day to make deposits for numerous businesses. But the federal government now wants access to that information. If passed, new banking regulations would make banks determine the identity of it's customers, determine its customers sources of funds, and monitor all accounts to determine what are considered normal transactions and what are considered suspicious.
Customers are outraged.
If the goverment passes the proposal it would go into effect a year from this spring. Oklahoma bankers hope people will write in to protect their rights.