A Congressional report reveals that under the Biden regime the government coersed banks to turn over data on their customers transactions to the government without any search warrants.. Warrantless searches was one of the things that led to the American Revolution. The Bill of Rights is supposed to protect American citizens against it. The targets appear to be political opponents of Biden.
A bank exercising its fiduciary duty to its customers would have firmly said NO, not without a duly issued search warrant. The real question is what did the Biden regime use to give the big banks as offer they could not refuse?
This is just another example of how dictatorial and authoritarian the Biden Democrats have been. As Orwell would have said "Big Brother is Watching You."

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If we only had CBDC, the government could find out erverything about anyone they wanted. We are already seeing how government can coerse banks to giving up this info on political opponents.