The Law: Banking On Privacy

A check printed on dark red paper? That bright idea is not some new Christmas Club banking gimmick but an imaginative scheme for making a little money and protecting the confidentiality of personal banking records at the same time. As a two-year federal study into the abuses of privacy showed earlier this year (TIME, July 18), the microfilm records kept by banks of all the checks written by their customers are being made available, not only to the FBI and the Internal Revenue Service but to an army of local and private snoops...

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