House Judiciary Committee Report: Feds Searched Private Financial Data
Is your bank protecting your privacy, or handing over your data with a simple “please” from the Feds?
Federal investigators have been combing through the financial data - legal consumer transactions – without justifiable cause or legal process. The House Judiciary Committee and its Subcommittee on the Weaponization of the Federal Government, headed up by Chairman Jim Jordan (R-Ohio), has released its interim report, revealing that federal law enforcement conducted broad financial surveillance without warrants.
Under the guise of SAR, “Suspicious Activity Report”, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) and the FBI requested the data from multiple financial institutions. Only one is identified as having requested legal process before complying with the request. Other banks voluntarily handed over the information without any sort of search warrant. This unjustified invasion of privacy against law-abiding Americans was tied to specific keywords in their legal consumer transactions. Words like “Trump” and “MAGA,” along with purchases tied to religious retailers and sporting goods stores, were specifically outlined as red flags that may indicate potential extremist behavior.
The committee writes, "Absent renewed safeguards, the federal government and financial institutions will continue to siphon off Americans’ sensitive financial data, place it into the hands of bureaucrats, and erode any remaining semblance of financial privacy in the United States."
Fox News has outlined additional information about the report and its findings, including a copy of the Committee’s document:
Feds conducted 'broad' and 'unjustified' surveillance of Americans' private financial data on Fox News
Feds using banks to surveil Americans' financial data without warrants, House Judiciary says on Fox News
It is precisely this sort of privacy invasion, which we believe has been happening for years and was confirmed by the Subcommittee earlier in 2024, that is the reason behind Old Glory Bank. Law-abiding Americans have a right to their financial privacy, and they have a right to a bank that protects it.
Notice to the Federal Government: IT IS OLD GLORY BANK’S UNWAVERING POLICY THAT WE WILL INFORM CUSTOMERS OF EACH SUBPOENA UNLESS EXPRESSLY PROHIBITED BY LAW (WHICH IS RARE). THEREFORE, DO NOT SEND A SUBPOENA TO OLD GLORY BANK THAT YOU DESIRE TO KEEP CONFIDENTIAL BECAUSE WE WILL NOT KEEP IT CONFIDENTIAL.
