Posted on 12/23/2022 9:46:19 AM PST by Jan_Sobieski
For more than half-a-century, Uncle Sam has been giving banks the legal tools to snoop into the otherwise-private affairs of their customers. Now, they are monitoring the exercise of their Second Amendment rights.
Thanks to a recent move by the International Organization for Standardization (ISO, headquartered in Switzerland), U.S. banks are starting to build databases on their customers’ purchases of firearms and ammunition. And, of course, they are ready and quite willing to share that information with federal law enforcement in the name of providing a public service to identify “mass shooters.”
This invasion of privacy began in earnest with enactment of the Bank Secrecy Act of 1970, which mandated that banks assist federal law enforcement in uncovering, investigating, and ultimately prosecuting violations of federal law.
Banks have long complained about the burdens of compliance with the 1970 law and several related laws signed since then due to the multi-faceted regulations they spawned. But the trove of data these procedures have allowed banks to gather and database has more than paid for the costs of compliance.
These laws’ main focus, according to the Treasury Department, which has primary responsibility to their enforcement, has been money laundering. Over the years, however, the many-headed hydra we call the system now includes virtually any banking customer activity that a bank employee might consider to be suspicious. In fact, banks’ primary tool in this regard is a document called a “Suspicious Activity Report” or “SAR.”
Then there is the USA PATRIOT Act, passed in the immediate aftermath of the 911 attacks…
(Excerpt) Read more at dailycaller.com ...
The Gun Lovers bank will open
Sounds like a violation (or infringement) of the 2nd Amendment Right and the (Free) Commerce Act as well as banking laws.
I pay cash and I do not, nor will I tell them what I spend my cash on.
That’s why one should pay cash whenever possible.
It’s not up to the banks to be my conscience or gatekeeper about my second amendment rights.
They should stick to banking.
if it doesnt run into any regulatory problems
These banks must be sued
Gun shows and folding money for the win.
This is why I only deal with a local state bank in Texas. Highly unlikely to do this.
First question: Why is the ISO located in Switzerland vs within the United States?
this is why the useful idiots like Barr are pushing for a cashless society
“The Gun Lovers bank will open”
Close, and already in the works:
Not a problem since there is no such thing as too many guns or too much ammo LOL
Seriously these people have declared war in earnest on us. And we’re not going to win this battle in the courts thanks to 50 years of leftist Judge packing with the assistance of spineless Republicans and Republican traitors.
We are already seeing a parallel economy start to form.
One four letter word
CDBC
"If you don't support the patriot act, then you're a terrorist and...and the terrorist win." ~ said every myopic retard at the time.
Use cash or a prepaid VISA card.
FYI, find a stable stock broker, not related to a big bank. You can deposit funds and use the account similar to a bank account using a debit card. That may work for a while. Of course, there is cash, at least until they outlaw cash.
“Why is the ISO located in Switzerland vs within the United States?”
International Organization for Standardization.....originated in Europe.
On a side note I had to work within the framework of this organizations guidelines as our facility was required to be ISO certified.......what a PITA.
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