“Hidden deep in Senator Christopher Dodd’s 630-page Senate housing legislation is a sweeping provision that affects the privacy and operation of nearly all of Americas small businesses. The provision, which was added by the bill’s managers without debate, would require the nation’s payment systems to track, aggregate, and report information on nearly every electronic transaction to the federal government.”
“Not only does it affect nearly every credit card transaction in America, such as Visa, MasterCard, Discover, and American Express, but the bill specifically targets payment systems like eBay’s PayPal, Amazon, and Google Checkout that are used by many small online businesses.”
Two things are particularly disgusting about this, though not surprising: this is part of a housing legislation bill, and it was added without any congressional debate. Not that debates between congress critters are particularly enlightening or meaningful.