So the government will tax me 1% for the privilege of paying my bills or putting my paycheck into the bank. This could easily cost the average American hundreds of dollars a year in new taxes. One might as well plan to do like they did in the 1930s when banks were shaky...get your pay in cash and do all your transactions in cash.
Of course the government will lie and blame the banks for this new “fee”. Someone should explain this to the union hacks in Iowa who keep electing Tom Harkin to the US Senate.