S 809 · in committee · major

Saving Privacy Act

What this bill does

This bill eliminates financial reporting requirements that currently require banks to report large transactions to federal agencies.
Financial institutions, payment processors, and individuals are affected by restrictions on how their financial data can be accessed.
The bill requires warrants for government access to financial records and mandates congressional approval for major financial regulatory rules.

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Community Threads

Started by Cosponsor

01
How would requiring warrants for all government access to financial records affect law enforcement's ability to detect money laundering and terrorist financing?
02
Which financial institutions and payment processors would face the greatest compliance costs from eliminating current transaction reporting requirements?
03
What trade-offs exist between increased privacy protections for individuals and the government's capacity to monitor large financial transactions for criminal activity?

Cosponsor writes these to seed civic discussion — they aren't user posts. Sign in to reply.