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{"id":71420,"date":"2021-10-12T17:59:49","date_gmt":"2021-10-12T21:59:49","guid":{"rendered":"https:\/\/www.flanews.com\/?p=71420"},"modified":"2021-10-12T16:22:22","modified_gmt":"2021-10-12T20:22:22","slug":"florida-bankers-in-uproar-over-biden-plan","status":"publish","type":"post","link":"https:\/\/www.flanews.com\/2021\/10\/12\/florida-bankers-in-uproar-over-biden-plan\/","title":{"rendered":"Florida Bankers in Uproar Over Biden Plan"},"content":{"rendered":"

Tuesday was \u201cNational Savings Day\u201d, a day when spending less and saving more is emphasized.<\/p>\n

But a proposal by the Biden Administration to snoop on your bank account could result in less savings and fewer people using banks.<\/p>\n

<\/iframe><\/p>\n<p>Under the plan being pushed by the White House, banks would be required to share your account information including what went in, what came out and where it went.<\/p>\n<p>The information would be reported regularly.<\/p>\n<p>It would also track transactions of $600 or more.<\/p>\n<p>\u201cYou\u2019ll encourage more underground economy,\u201d said Florida Chief Financial Officer Jimmy Patronis.<\/p>\n<p>Nearly two dozen state financial officers have written to say its a bad idea.<\/p>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-1 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 33%;\n\t\t\t}\n\t\t\t#gallery-1 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div id='gallery-1' class='gallery galleryid-71420 gallery-columns-3 gallery-size-thumbnail'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/still1012_00003-2\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00003-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00003-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00003-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00003.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/still1012_00007-2\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00007-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00007-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00007-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00007.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/still1012_00004-2\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00004-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00004-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00004-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00004.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><br style=\"clear: both\" \/>\n\t\t<\/div>\n\n<p>Patronis is one of the signers.<\/p>\n<p>\u201cAt the end of the day, I don\u2019t think having Uncle Sam sitting in my bedroom, finding out what I\u2019ve purchased over the last thirty days is any of their business,\u201d said Patronis.<\/p>\n<p>Florida bankers have begun an uproar.<\/p>\n<p>Florida Bankers Association President Alex Sanchez called the plan expensive and disruptive.<\/p>\n<p>\u201cIt\u2019s just wrong. It\u2019s an incredible invasion of privacy by the Biden Administration, by the Internal Revenue Service,\u201d said Sanchez.<\/p>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-2 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-2 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 33%;\n\t\t\t}\n\t\t\t#gallery-2 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-2 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div id='gallery-2' class='gallery galleryid-71420 gallery-columns-3 gallery-size-thumbnail'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/still1012_00015-2\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00015-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00015-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00015-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00015.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/still1012_00012-2\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00012-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00012-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00012-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00012.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/still1012_00014-2\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00014-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00014-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00014-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00014.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><br style=\"clear: both\" \/>\n\t\t<\/div>\n\n<p>We did talk to three Democrat State legislators.<\/p>\n<p>All were unaware of the plan.<\/p>\n<p>Only one would go on the record.<\/p>\n<p>\u201cThere is a reason why we need to have a strong government, to have this kind of oversight, to make sure that folks are held accountable when they are not paying their taxes,\u201d said State Representative Carlos Guillermo Smith.<\/p>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-3 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-3 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 33%;\n\t\t\t}\n\t\t\t#gallery-3 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-3 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div id='gallery-3' class='gallery galleryid-71420 gallery-columns-3 gallery-size-thumbnail'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/still1012_00019\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00019-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00019-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00019-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00019.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/still1012_00013-2\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00013-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00013-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00013-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00013.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/still1012_00018\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00018-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00018-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00018-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/10\/Still1012_00018.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><br style=\"clear: both\" \/>\n\t\t<\/div>\n\n<p>The bankers did tell us they are making headway with moderate Democrats in DC, but they worry customers will lose trust if banks are forced to provide the info.<\/p>\n<p>\u201cAnd I think what the Biden Administration should do is go after the high income tax evaders that are either persons or corporations, and audit them,\u201d said Sanchez.<\/p>\n<p>The motivation to catch tax cheats is seen by most as a good thing, but the plan is also likely to be costly for average Americans who get audited over otherwise innocent transactions.<\/p>\n<p>Florida CFO Patronis also told us he has directed the Department of Financial Services to try an find a way to exempt state residents from the plan if it becomes law.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tuesday was \u201cNational Savings Day\u201d, a day when spending less and saving more is emphasized. But a proposal by the Biden Administration to snoop on your bank account could result in less savings and fewer people using banks. Under the plan being pushed by the White House, banks would be required to share your account […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/posts\/71420"}],"collection":[{"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/comments?post=71420"}],"version-history":[{"count":1,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/posts\/71420\/revisions"}],"predecessor-version":[{"id":71421,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/posts\/71420\/revisions\/71421"}],"wp:attachment":[{"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/media?parent=71420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/categories?post=71420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/tags?post=71420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}