I strongly disagree that financial institutions being a de facto extension of law enforcement is "non-controversial".

It may be the way things are; it may be a pre-req of making financial crime tractable; but that does not detract from the fact that every financial institution is in essence, deputized law enforcement, and negate the chilling effect that comes as a consequence thereof on a business environment subject to it.

Fair enough. It was something that impressed me when I first read about it. You hear about disputes between Apple and the FBI over unlocking phones and meanwhile banks are like "and over here are whole floors of analysts tracking suspicious stuff." I definitely agree there are downsides and not everyone is happy about the floors of analysts, but I do think they are very far away from the Overton window.