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/
Yael / Yaël
npub15d…z3lfc
2024-10-04 12:03:15
Author Public Key
npub15dnln6cukw3yrflnv3hnrntdt9amh0uw466u6tns05ymqp3nal4qzz3lfcPublished at
2024-10-04 12:03:15Event JSON
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"content": "We must reform the Bank Secrecy Act to better protect consumer financial privacy. \n\nSens. 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).\n\nAn inflation-indexed SAR limit removes the KYC compliance nightmare too many have to face.\n\nVery happy to support this bill to finally rein in the Bank Secrecy Act!\n\nhttps://consumerchoicecenter.org/reform-the-bank-secrecy-act-to-better-protect-consumer-financial-privacy/",
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}