With banks having that power, you’re guilty until you prove innocence. Haven’t committed any crimes? Doesn’t matter, you’re banned by default and after you provide ID, we’ll let you bank. Oh and if for any reason, we can ban you and you have no recourse. We won’t tell you the reason either. It’s a great way for the government to not actually go after the money launderers and give the keys of doing business to a select few.
