[Rockstar]

Don’t worry Skybird you German’s are not alone. Unbeknownst to most if not ALL Americans is our own government is proposing to doing something similar. In that 3.5 trillion dollar infrastructure bill they’re working on. The house might be sneaking in legislation which instructs banks to report all of our private/personal transactions $600 dollars and above to the IRS. Of course banks are already complaining about the additional costs of this new mandate. But I’m sure they will find a way to pass on the burden to the consumer. lol

The Right to Financial Privacy Act which limited government access to our private banking and financial statement will soon be thrown in the trash. And the people who voted for these clowns don’t have the slightest clue what’s about to happen. There was a time when only cash transaction 10,000 dollars or more had to be reported. But that was 1970’s money now in 2020 iwhen you consider inflation it should have risen to around 70,000. Instead they are lowering it to 600.00.

Used to be in order for the government to gain access to your financial statements they need an authorization, signed and dated by the customer, that identifies the records, the reasons the records are being requested, and the customer’s rights under the act. And only if they had one or more of the following:
• An administrative subpoena or summons
• A search warrant
• A judicial subpoena
• A formal written request by a government agency
(to be used only if no administrative summons or subpoena authority is available)

Our rights to financial privacy are going away. But if people never realized what they had they won’t miss it.