Yael on Nostr: Along with upping SAR limit, it also repeals the Corporate Transparency Act (hell ...

Along with upping SAR limit, it also repeals the Corporate Transparency Act (hell yeah), strengthens 4th Amendment $ protections, prohibits a CBDC (go bitcoin!), recenters financial authority, and creates private right of action for illicit gov't action!

Based Mike Lee!

https://www.lee.senate.gov/2024/9/lee-introduces-the-saving-privacy-act-to-protect-americans-financial-data

quoting
note1muh…8juc

We must reform the Bank Secrecy Act to better protect consumer financial privacy.

Sens. Mike Lee (UT) and Rick Scott (FL) have a bill to start the work by removing the arbitrary 1972-level $10K Suspicious Activity Reporting threshold and indexing it more appropriately to inflation ($75K today).

An inflation-indexed SAR limit removes the KYC compliance nightmare too many have to face.

Very happy to support this bill to finally rein in the Bank Secrecy Act!

https://consumerchoicecenter.org/reform-the-bank-secrecy-act-to-better-protect-consumer-financial-privacy/