2021 Press Releases
IN CASE YOU MISSED IT…. News4Jax: “Florida bankers in uproar over Biden plan”
Sep 20, 2023, 09:37
by
Megan Perry-Thibault
"Tuesday was “National Savings Day,” a day when spending less and saving more are emphasized."
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TALLAHASSEE, Fla. – Tuesday was “National Savings Day,” a day when spending less and saving more are emphasized.
But a proposal by the Biden administration to snoop on your bank account could result in fewer savings and fewer people using banks.
Under the plan being pushed by the White House, banks would be required to share your account information including what went in, what came out, and where it went.
The information would be reported regularly. It would also track transactions of $600 or more.
“You’ll encourage more underground economy,” said Florida Chief Financial Officer Jimmy Patronis.
Nearly two dozen state financial officers have written to say it’s a bad idea.
Patronis is one of the signers.
“At the end of the day, I don’t think having Uncle Sam sitting in my bedroom, finding out what I’ve purchased over the last thirty days is any of their business,” said Patronis.