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July 9, 2010

European Lawmakers OK U.S. Monitoring of Financial Transactions
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The European Parliament has approved the resumption of a controversial
data-sharing program that allows the U.S. to monitor of millions of
international financial transactions. The records have been obtained
through SWIFT, which directs trillions of dollars in international bank
transfers each day. The program has been accused of violating privacy
rights since coming to light in 2006. European Union lawmakers had
rejected a proposed extension of the program earlier this year despite
heavy Obama administration pressure. 
But on Thursday, the EU parliament backed a new deal that negotiators
say will allow oversight of U.S. investigators involved in the program.



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