◆ SpookStack

We began the process with them last fail. And we are -- we, wilhin OGC, are to the point that if they cannot demonstrate to our satisfaction very quickly, then any of those records have lo be removed from the database and destroyed. WATERS: Certificate letters: Are you still issuing certificate letters? CAPRONI: No. WATERS: When did you stop? CAPRONI: Shortly after OGC learned about them, that process was stopped. We entered into discussions with the Fed, the Federal Reserve Bank, in terms of whether or not it required a national security letter. There was some back and forth between lawyers that the decision was made that they would prefer a national security letter, and we've always now provided them. WATERS: So you collected information using these certificate letters. Had that information been destroyed? CAPRONI: No. WATERS: When are you going to do it? CAPRONI: I don't belteve we're going to do it. WATERS: Why are you going to keep information that was improperly collected on financial records of innocent people? Why would you keep it? CAPRONI: One, it's not innocent people. And, second, it wasn’t improperly collected. The Federal Reserve Bank is not directly covered by the right to financial privacy. They can ask for a national security letter, which they now have done. And because they're asking... WATERS: Well, why did you stop using certificate letters if they were legal and proper?