For a discussion of the relevant law: http://dealbook.nytimes.com/2014/01/26/justice-dept-inquiry-takes-aim-at-banks-business-with-payday-lenders/ http://dealb

For a discussion of the relevant law: http://dealbook.nytimes.com/2014/01/26/justice-dept-inquiry-takes-aim-at-banks-business-with-payday-lenders/ http://dealbook.nytimes.com/2014/01/26/justice-dept-inquiry-... https://www.courthousenews.com/2014/01/09/64360.htm https://www.courthousenews.com/2014/01/09/64360.htm https://www.courthousenews.com/2014/01/09/USvFourOaks.pdf https://www.courthousenews.com/2014/01/09/USvFourOaks.pdf > all banks in the United States [are] required by law to have an effective program in place to assure that the Bank understands the identities of its customers and the nature of their business activities > [all banks in the United States are] required to have an effective compliance program to prevent illegal use of the banking system by the Bank's customers > By conducting a meaningful "know-your-customer" analysis, [banks are] required to collect information sufficient for the Bank to determine whether a client pose a threat of criminal or other improper conduct. > information required to be collected includes purpose of the account, actual and anticipated activity in the account, the nature of the client's business, the client's location, and the types of products and services the client intended to offer > See generally Bank Secrecy Act, 31 U.S.C. § 5311 et seq.; USA Patriot Act, § 326, 31 U.S.C. § 5318; 31 C.F.R. § 1020 et seq. http://www.law.cornell.edu/cfr/text/31/chapter-X http://www.law.cornell.edu/cfr/text/31/chapter-X The gist is that all banks (etc.) are required to spy on you. Which is why we need Zerocoin (anonymous Bitcoin) or Zerocash. http://zerocoin.org/ http://zerocoin.org/