Comment by flagrant_taco

Many of the arguments revolve around concerns that the government will gain too much control, power, and personal information. It the government directly controls financial transactions they know every transaction we make, and more importantly can deny transactions they don't like.

Arguably the US government effectively has these powers today, but beingtthat they don't directly own our banks there is a level of red tape they have to go through. As long as they are technically separate there is also the opportunity for us to change the laws and strip them of that access, once combined we give up that possibility.

The US was originally design with a very strong distrust of our own federal government. For the last 80 years we've completely flipped the script and given more and more power to a massive federal government, but the undertone of distrust is still around for quite a few Americans.