Note that that doesn’t merely say “Don’t tell a customer about a SAR” it says “If you are compelled to testify as to something which could reveal a SAR under the ordinary operation of the laws of the United States you shall refuse to do so, using the following language.”
@patio11
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Banks’ Survey Data Resistance to Tech Change
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Many people in tech believe this and it is important to understand that this is untrue, and that the manifest ability of banks to point to a mountain of survey data from a large fraction of American spectrum is one reason achieving change is so hard.
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Banking Compliance vs Consumer Transparency: The SAR Paradox
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(You try to square the circle “I feel like if I go down to my bank branch someone should be able to tell me what is going on” and “By regulatory decree, only Compliance gets to see SAR contents and they MUST NOT disclose to customer under penalty of law.”)
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Structural and Technical Problems in Regulatory Compliance
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Maybe I should write about why that happens, one of these days. It is partly a structural and partly a technical problem, sometimes exacerbated by ~intentionally broken structure you must implement because it is the law.
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Banking Policy Administration and Regulatory Compliance Challenges
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We aren’t at the efficient frontier of competent administration of our policies, by the way. One frustration that people have frequently in this and other banking areas is that many banks seem to be unable to durably make commitments about their own behavior like promising a call
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Banking Priorities: Society’s Competing Demands Require Strategic Choices
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Beating very familiar drum: society wants a complicated basket of goods from banks. Some of those priorities compete with each other. We have a choice as to which wins at the margin, and the brokenness observed is us getting what “we” want. Maybe we should want different things.
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Why America Closes Bank Accounts Without Clear Accountability
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An equally true way to write the headline is “Why is America closing bank accounts capriciously” and then just quote verbatim regulators who will say “Oh yes while we’d absolutely close a bank without this program in place, we have no responsibility for individual decisions.”
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Legal threats prevent transparent answers about AI policy
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“Why will nobody give me a straight answer?” The threat of prison if they do is a major factor. See generally:
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AI Models Achieve Undergraduate-Level Reading Writing Skills
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Computers can now read and write at the level of an undergrad. They are sporadic with respect to accuracy but eager to listen to corrections, which sometimes improves their work. They work almost instantly, entirely tirelessly, for almost no cost. They are getting better rapidly.
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Mixed Equilibria in Decentralized Network Adoption Dynamics
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Possibly there’s a mixed equilibria situation for it, too, since not being tied into the One Gatekeeper To Rule Them All lets users on a nascent network vie for extra priority via adopting the nascent network.