Protecting Financial Privacy: Prohibiting Federal Agencies from Reporting Bank Transactions.
This bill aims to prohibit federal agencies, including the Treasury Department, from requiring banks and other financial institutions to report customer transaction data, balances, or money flows. This means your financial data will be better protected from government collection, enhancing your financial privacy.
Key points
Federal agencies will not be able to demand banks report details of your financial transactions.
The act aims to increase citizens' financial privacy by limiting government access to banking data.
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