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OHIO – Ohio Attorney General Dave Yost, along with 19 other state attorneys general, sent a letter to the US Treasury Department opposing a new federal policy that would allow the federal government access to almost all US bank accounts and financial transaction information. .
“It makes the IRS more powerful than the police – even the cops have to at least issue a subpoena. Even the police must have a reasonable and articulate suspicion before they can “stop and search”. Yost said. “This anti-American bill allows the government to spy on law-abiding citizens, all of us, all the time in real time. It must not become law.”
In the letter, attorneys general argue that banks across the country will need to transform the way they do business in order to comply with proposed reporting requirements, including investing large sums in data collection and other systems. The letter argues that consumers will be punished in a number of ways, as banks would likely pass on costs in the form of fees or higher interest rates, not to mention centralized storage of sensitive information would provide cybercriminals with an additional target to exploit with informations. on almost all Americans.
The group says that if arresting financial criminals or punishing tax evaders is the administration’s goal, they will gladly join in finding the right solutions based on the rule of law, but violating the rights of virtually all Americans with a bank account is not the answer.
In addition to Ohio, the coalition also includes the attorneys general of the following states: Alabama, Alaska, Arkansas, Florida, Georgia, Idaho, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nebraska, New Hampshire, Oklahoma, Caroline South, Texas, Utah and West Virginia.
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