The title says it all.
However, it will likely have the opposite effect. History clearly shows when people get cut out of the banking system, they opt to underground cash systems, which create fodder for organized crime being off the books. Family lending will skyrocket and neighborhood bookies will be back on the street corners doing business in big cities...almost like going through a time machine.
Interesting to note, financial institions are defined by the Treasury as:
Casinos
Depository Institutions
Insurance Industry
Money Services Businesses
Mortgage Co/Broker
Precious Metals/Jewelry Industry
Securities and Futures
Crypto exchanges are going to fall in there somewhere under some interpretation.
There was a thing in Germany 2 months ago where (according to a letter I read) all Russians/Belarusians were called into banks to prove their residency/citizenship.
One of my friends was called in because despite being born in Ukraine, they migrated into the EU under a Russian passport - in 1994 (yes, really) and were flagged because they kept both nationalities.
Back during Covid, the Germans advertised (literally, on billboards) that all the social distancing, tests and constant violation of rights was "the new normal", but I guess the actual thing "new normal" meant was the return of oppressive government.
Banks have to go.
Looking at the age-verification push, I'm wondering how long till ISPs are playing the same role delegated enforcement that we currently see banks doing. Having access to the financial system or the internet gated through centralized providers seems to be the obvious weak point that governments have learned how to use.
Fixed that for ya.