Which is what the author is pushing, shouting chokepoint that has nothing to do with legal underlying businesses or lenders as referenced here.

It’s true that choke point takes BSA/AML further than it went with the major reforms of the mid 80’s especially targeting questionable lenders which is where the authors major gripe is, seconded by DOJ using civil process against banks vs criminal against fraudulent customers.

Will read this bill but it isn’t looking like they’re main interest is not cleaning up or eliminating the oh so profitable (for the banks sitting on their cash) fraudsters so much as it is to use branch level arbitrary discretionary account approval/denial.

The branch level arbitrary approval/denial is a major issue …regionally there will be adult friendly branches and not so adult friendly in the Bible Belt. This means adult bookstores & strip clubs with accounts in good standing as legal but struggling businesses will get tossed aside in favor of potentially more profitable online businesses (where traffic count ad revenue takes priority over average consumer check & customer counts ) and other questionable businesses that have fostered a personal relationship with branch manager.