They collect much more personal info than necessary. Know your customer laws (KYC) require collecting a ton of personal info like phone number, address, face scan. Some have facial recognition in their buildings.

Many use insecure 2FA methods like SMS which allows sim swaps. Their apps and websites often contain extensive fingerprinting and trackers. The also ask for permissions they don't need to function just to get more data about you.

They share and sell that info by default. In fact, it seems they are required to.

They use that info in non-privacy preserving ways like targeted ads based on your purchase history.

All transactions are stored for too long (many years). Transactions are analyzed by AI.

They file reports to the federal government when they see something suspicious. Like using cash or buying medical care that's "high risk". Extremely few of these reports are acted on. It's mass surveillance—surveillance of everyone without a crime having been committed.

This is your private info that the government should need a warrant to access, but by requiring the bank to do it, they created a loophole through the 4th Amendment.

Here's from someone who works at a bank (apparently):

>Investigations can also be initiated on flawed pretences. For example I once had an investigation started because a teller was being racially insensitive to an indigenous woman.

https://www.reddit.com/r/moneylaundering/comments/1lfa7hp/ho...