The Ohio Attorney General David Yost, as well as other state attorney generals, have penned a letter to announce their opposition to a new federal policy.
The policy would provide the federal government with access to information on bank accounts and financial transactions.
The letter states that banks across the country will have to transform the way they conduct business in order to comply with the proposed reporting requirements, including investing a significant amount of money in data collection and other systems.
"This makes the IRS more powerful than the police -- even the cops have to at least issue a subpoena. Even the police have to have a reasonable, articulate suspicion before they can stop-and-frisk," said Yost. "This anti-American bill allows real-time spying by the government on law-abiding citizens -- all of us, all the time. It must not become law."
The attorney generals also state that they are willing to find other solutions to stopping financial criminals.
