You are incredibly incorrect on that assertion. There is, in fact, a centralization/dictatorial dynamic at play, and it's called the Bank Secrecy Act.

Now it doesn't read like it, which most acts of american legislature don't, but on further observation of what it actually does, the intent becomes clear. There is one financial system in the U.S., you will play by it's rules or be excluded, it won't tell you why, it will not be a dumb pipe either. It is directly coupled to law enforcement, and the Federal Government, and yes, there is a Master list that if you get on it, will lock you out of withdrawing from (but not depositing into!) every U.S. bank.

Part of why I no longer do finance work. Once you see how the sausage is made, there is no shower hot enough to slough off the slimey feeling.

> If the bank has filed a SAR, it isn’t legally allowed to tell you, and the federal government prosecutes only a small fraction of the people whom the banks document in their SARs.

Sounds worryingly similar to an effective violation of habeas corpus ?

P.S.: To make the matters worse, it looks that trying to rely more on cash as an insurance against getting debanked, raises your risk of getting debanked !