I think these types of regulations only build a database that terrorist can hack
into and thus learn to "emulate" legal behavior using our money and credit cards.
The terrorist just hacks in and becomes me and you.
The more information consumers give to businesses the more the consumers get
ripped by crooks. The collection of this data is how millions of credit card numbers
were stolen from big companies over the last decade.
They are not stopping terrorist, they are just putting all our assets in a one neat
pile that allows crooks to rip us all in one swoop.
The idea that someone who is determine to kill us is going to be stopped because
they can't get a $50 gift card is fucking stupid.
They just shoot you in the back of the head at the ATM and take your $50.
Kind of like how cars alarms created car jacking.
These policies are most likely lobbied for by banks as they lose market share
to non banks and this is just a way to cripple the competition.
There wouldn't even be such a thing as GreenDot if banks didn't suck so hard.
I got a greendot card because that ended my problems with online businesses
over charging and double charging because greendot has no mandatory overdraft
like my bank had; which allowed me to "fix" my card to the exact amount I needed
to pay. Problem solved, no more fees and charge backs.