--- On Fri, 9/17/10, MJ Ray <mjr@phonecoop.coop> wrote: <...>
At the time I wrote my last email, I wasn't aware of PTFS's reaction because it wasn't in the same thread. Please try not to break thread. (ed c - you're one of those breaking up the thread.)
I'm sorry if my mail client is not up to your high standards.
Why isn't the US non-profit law great (note that
charity law and
non-profit law are not the same although related)?
Indeed, charity law and non-profit law are not the same, so why ask me about US non-profit law when I criticised US charity law? Basically the problem there is it doesn't often exist.
Because you did so while referring to a 501(c)3, which is organized under non-profit law.
All banking systems are horrible. Instead of lobbing acquisitions about US law, please point to specifics and make a proposal that can be responded to.
One specific problem is:
"One of the weaknesses in U.S. payment systems is how easy it is to create bogus checks and deposit them at a bank," said Michael Herd, a spokesman for NACHA/The Electronics Payments Association, which sets rules for electronic bank transfers. -- http://www.msnbc.msn.com/id/7914159/
Of course account and routing numbers are fairly easy to obtain, printed on every cheque and used for money transfers.
No banking system is perfect, but I was surprised to discover just how insecure the US one seems. On my last trip there, I took a special-purpose MasterCard and closed the account soon after returning. Not only is the US not chip-and-PIN, but most vendors don't even look at the signature or hologram.
And this is why there are no non-profit organizations based in the US, I guess? <..> Edward