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Gun Owners Beware: HR 5764 and S 3117 Want Banks to Spy on You

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posted on Nov, 25 2021 @ 03:13 PM
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This snip just never ends. For some odd reason there are A holes in DC that think it's their business to know what you spend your money on. You've already heard about the $600 transaction in your bank accounts. You've also heard about the 80,000 new IRS agents.

Now this.



In the ever present push to have banks do the work of investigators (instead of banking), Democrats have introduced two bills that would force banks to spy legal gun owners. HR 5764 and S 3117, filed by Representative Madeleine Dean (D-PA) and Senator Ed Markey (D-MA) is masked as the “Gun Violence Prevention Through Financial Intelligence Act.” Financial Intelligence. What that really means is this: both the Second and Fourth amendments are going out the window. The excuse is to “prevent gun violence,” but it targets the wrong people. As usual.


Source.



The legislation would require the Financial Crimes Enforcement Network (FinCEN) within the Treasury Department to provide guidance to financial institutions that could help them report suspicious activity related to mass shootings and domestic terrorism.




Under existing regulation financial institutions are required to file Suspicious Activity Reports (SARs), to raise red flags about money laundering, human trafficking, terrorist financing and other criminal activity.


We already have to put up with SAR's if you try to take out more than $10,000 from your bank account. Apparently Only criminals want to do that which is idiotc considering the Banking Secrecy Act was created 51 years ago by the same party that trying to run the above snip through.

What makes the BSA so effing stupid is because it does not take in to account 51 years of inflation, and in the 21st century. $10k isn't living the high life by any god damn means.

So buy a firearm or ammo and your gonna end up getting a SAR filed, then expect the American gestapo(FBI/BATFE) to be knocking on your doors.

I retort.

You decide.

I guess financial privacy is asking for too god damn much.



posted on Nov, 25 2021 @ 03:39 PM
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a reply to: neo96

As if criminals had bank accounts where they put their black money (ALERT, a racist post!) into and send Guiseppe to the ATM to get 20k$ and buy drugs, guns and people.

Europe want's a task force for that, too. With souvereign rights over nations... Like a police force, but it's not your country they serve and answer to, it's the EU.

I can imagine that similar is planned on a federal level and the USA. A dedicated, federal force. I hope US state laws are rigid enough so this will not happen.




posted on Nov, 25 2021 @ 03:45 PM
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I guess time to start hiding your hard earned dollars under the mattress like those old conspiracist believers back in the days, I guess they were right to be soo worry and paranoid about what the government wanted to do with their money.

My grandfather may rest in peace now never trusted the government enough to open a bank account and carry any check books or credit cards, once we used to make fun of him, he bought every thing cash and keep no credit, I guess he was no soo paranoid after all.



posted on Nov, 25 2021 @ 04:14 PM
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Amend the legislation so it applies doubly to all members of Congress.

Watch it die quietly and quickly in committee.



posted on Nov, 25 2021 @ 04:14 PM
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a reply to: neo96

I am looking forward to the day when patriotic Americans take back America from the communists that have infiltrated all levels of government, media, mega corporations & banks.

It is always darkest before the dawn.



posted on Nov, 25 2021 @ 05:26 PM
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a reply to: neo96

Banks are required to report any suspicious activity.
It doesn't have to break the $10k barrier.
My wife has to deal with this occasionally.



posted on Nov, 25 2021 @ 06:35 PM
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How is a bank going to tell if you purchased a gun or some fishing equipment from the same store? Was it a gun or a large tent? Was it ammunition or a canoe?

I see this adding more ineffective bureaucracy to the government. Just another waste of tax dollars before even mentioning the guns.



posted on Nov, 25 2021 @ 11:39 PM
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originally posted by: beyondknowledge
How is a bank going to tell if you purchased a gun or some fishing equipment from the same store? Was it a gun or a large tent? Was it ammunition or a canoe?

I see this adding more ineffective bureaucracy to the government. Just another waste of tax dollars before even mentioning the guns.


Do you think that a line by line description of what you purchased and the SKU of said item doesn't go anywhere but on your receipt? Stores collect the data for stocking information in chain stores, credit/debit card companies sell the data to manufactures for feedback....

We were getting data-mined a long time before Google did it...




posted on Nov, 26 2021 @ 01:47 AM
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a reply to: Lumenari

Yes, but that information isn’t usually available to the banks. All they know is the store or company information. I tried tracing some charges a couple of years ago and they could not even tell me the company. It finally turned out to be a mislabeled transaction within the same bank.

The credit card company and the company you bought from can sell your information but the bank usually does not know what you bought, just where from. The same applies to a check. No items listed with the bank information just the company and total amount.

The government is barking up the wrong tree. Not even in the same forrest.

edit on 11 26 2021 by beyondknowledge because: (no reason given)




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