Published on January 23, 2024, 12:49 am

Senator Tim Scott (R-SC) has taken a institutional stand, questioning Treasury Secretary Janet Yellen regarding an alarming report. The report proposes that federal officials guided banks to disclose customer data related to transactions marked with terms such as “TRUMP” or “MAGA.”

Scott’s query was prompted by documents accessed by the Select Subcommittee on the Weaponization of the Federal Government. It revealed that the Financial Crimes Enforcement Network (FinCEN) had identified these terms in relation to their examination into the events of January 6th riot. Banks were instructed to scrutinize transactions involving purchases from religious text outlets and outdoor sporting goods retailers like Cabela’s.

“These implications, if confirmed, showcase an explicit infringement of American privacy rights, and unjust targeting of U.S. citizens for constitutional activities absent appropriate due process”, expressed Scott, a leading member of the Senate Banking Committee.

Reports suggest FinCEN requested banks’ assistance for federal law enforcement agencies in recognizing transactions from individuals’ interest using distinct typologies and Merchant Category Codes post January 6, 2021. The letter was also forwarded to FinCEN Director Andrea Gacki.

In his detailed correspondence, Scott posed multiple questions to Yellen regarding the Treasury Department’s role in procuring private financial data from banks and whether there was direct instruction from either FBI or Justice Department for this action. Moreover, he questioned Yellen about which religious texts were perceived as signs of extremism and why patrons of sporting goods stores were sought after in the federal investigation.

Notably reflecting on past attempts at misusing financial systems and payment activities against lawfully-operating yet politically unpopular endeavors, Scott said: “These allegations are especially worrying given former strategies like ‘Operation Choke Point’ during Obama administration where DOJ coordinated with federal financial regulators ostensibly coercing financial institutions into denying services catering to legitimate businesses deemed ideologically undesirable such as gun retailers”.

The dialogue around this issue continues with Last Thursday seeing House Judiciary Chair Jim Jordan request a meeting with Noah Bishoff, the ex-director of the Office of Stakeholder Integration and Engagement in FinCEN’s Strategic Operations Division, regarding the contentious report.

The letter asks Bishoff to be prepared for discussions concerning FinCEN’s existing safeguarding measures for constitutional freedoms, its usage of private financial information alongside cooperation with the private sector.

This unfolding scenario underscores the need for real news from trusted sources, centred around a Christain worldview attuned to social justice and transparent governance. It serves as an important reminder that no matter our political preferences or faith traditions, we are all vested in ensuring a just, democratic society where privacy is respected and freedom cherished.