People will see what’s happening with this and banks who co-operate will lose clients to banks who don’t participate and shield client info. It would be same outcome in USA.
Given a choice, conservatives and libertarians will flee such banks, and socialists and progs will stay in, probably weakening the viability of banks which participate.
If it were to be mandatory for all banks, then people would start dropping out of the banking system wherever possible.
I can just imagine it, a call from some banking snoop saying, “Pete, you’re spending too much on ____ and not enough on wind turbines, your pension goes down 20% now buddy.”
So then I would just spend more on ____ and stop giving to charity. Great plan.
It’s already here. The trial balloons have been sent up on several occasions here in the US. Notably against firearm purchasers.
If you think this isn’t coming to America, you’re not paying attention: it’s already here.