Not exactly, or at least not necessarily. He probably doesn’t want to be a snoop for the Feds, at all. However, adding these (favorite L word) DRACONIAN rules will add a much tougher hardship on small, local banks than on the major banks.
It’s almost as if the current administration is helping to force small banks out of business … or into the arms of larger banks, while at a disadvantage. I’m sure none of the larger banks put money into the outstretched arms of the big guy. They probably gave his kids, grand-kids, nieces, nephews etc. high paying, no-show jobs, who then kicked back 10% - 15% to the big guy.