Hearing to investigate the federal government working with banks, potentially bank to flag private transactions by Americans. Some of the terms that were singled out include MAGA, Trump, and stores like Dick's Sporting Goods, Cabela's, and Bass Pro. Jeremy Tedesco is testifying in that hearing. Jeremy expressed concerns about the government collaborating with big banks to access private financial data of Americans, raising fears of potential surveillance to identify risks or threats, including domestic terrorism.
He highlighted the alarming practice of financial surveillance by the federal government in partnership with major banks like JPMorgan Chase, Wells Fargo, and Bank of America. Tedesco emphasized that this surveillance could impact individuals regardless of their political or religious affiliations, citing examples such as monitoring purchases at specific stores or transactions related to religious texts.
Furthermore, Tedesco revealed that organizations, including Alliance Defending Freedom, were inadvertently targeted in the surveillance due to being listed by far-left activist groups. This indiscriminate monitoring of financial data raised concerns about the violation of privacy and First Amendment rights of ordinary Americans.
The U.S. Treasury Department defended its surveillance activities by stating its mission to combat money laundering, terrorism, and promote national security through financial intelligence. However, Tedesco criticized the government's justification, questioning the validity of using shopping habits at stores like Cabela's or Dick's Sporting Goods as indicators of criminal activities.
Tedesco also highlighted the systemic censorship risks in the financial industry, pointing out the potential misuse of policies to exclude individuals based on their beliefs or convictions. He called for congressional intervention to address these issues and protect individuals' rights in the financial marketplace.
Regarding the bipartisan nature of the issue, Tedesco acknowledged that both Democrats and Republicans have raised concerns about financial surveillance targeting specific groups. He emphasized the need for bipartisan cooperation to address the misuse of financial systems by the government and protect individuals' freedoms.
The hearing underscored the importance of safeguarding privacy and upholding constitutional rights in the face of increasing government surveillance and regulatory control over financial transactions.
