What do you think we should assume about your communications on encrypted channels? This entire thing is yet another federal effort to criminalize encrypted communications, and it even works on the HN crowd. All they have to say is "big banks bad" and people here go from freedom fighters to government pawns.
This has nothing to do with encryption. Banks are free to encrypt their communications. But they need to keep communication logs and make the plain text available to regulators in certain circumstances.
It's end to end encryption, as in, there are ends on each side where it is decrypted, usually for the humans to read. At the ends the records should have been maintained, the regulations aren't incompatible with E2E.
I'll respond to all three of you: yes it is difficult to retain all potentially work-related communications that take place on your employees' personal devices, so the alternative is to retain all communications.
It is absolutely incompatible with E2E encryption to mandate a third party access to one of the Es for surveillance purposes.
