Source: Cato Institute
by Nicholas Anthony
“Governments force banks to report your activity, judge whether you are being suspicious, and close your accounts when you step out of the norm. How? It dates back to 1970. President Richard Nixon had not yet been caught surveilling his political opponents. Instead, Oct. 26, 1970 marks when President Nixon signed the Bank Secrecy Act and set the foundation for a new regime of financial surveillance. Since then, the American public has been forced to endure 55 years of ever-expanding financial surveillance. Congress should not let the Bank Secrecy Act have a 56th anniversary — at least not in its current form.” (10/28/25)
https://www.cato.org/commentary/55-years-financial-surveillance