So now if you buy a bong on your credit card, the feds will know and may have probable cause to invade your home.But I think most of our bong purchases are safe because there is a $10k USD minimum for transactions to be reported. :0
Another thing I learned: I called Senator Dodd's office and was told this provision is an enforcement mechanism for a law already in place. Apparently these transactions already are required to be reported, but many are not. And so this provision is intended to collect more dough.
Not that that excuses the invasion of privacy, but it's just not going to affect as many people because of the minimum reporting, and the invasion of privacy already is law. I called both my senators, Wyden and Smith, to oppose the provision.
Capitol Hill switchboard: 1-866-928-3035.