Patriot Act Delay Makes Sense

Patriot Act Delay Makes Sense That sigh you heard was the collective expression of relief by the insurance industry, which has been given as much ...

By staff Writer | Updated on April 29, 2002

Patriot Act Delay Makes Sense

That sigh you heard was the collective expression of relief by the insurance industry, which has been given as much as a six-month reprieve before having regulations imposed to prevent potential money-laundering.

The issue was raised by passage of the USA Patriot Act, approved last year by Congress in response to the Sept. 11 terrorist attacks. Under the law, the U.S. Treasury Department was ordered to develop regulations to discourage and detect money laundering.

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