I think its time to avoid the banks as much as possible. This kind of reminds me of Germany as Hitler was solidifying his power. The smart Jews got OUT early before it was too late. I dont like the idea our government can intrude in my life to the extent it wants. I would disband the NSA if I could. Its dangerous to our freedom.

There have been requirements for certain types of cash transactions to be reported for years namely those of $10,000.00 or more irf consistent amount transactions on a regular repeating basis.
The fact thet the government is not looking to track all cash transactions smakes more of IRS then anything else.
To pivot slightly to another question. I would guess that not too many people are going to complain about this but let them (the officials in charge of voting) ask for an ID and it is taken to federal court immediately as an infringement of civil rights. If the fgovernment can/will track your cash transactions in a bank it is only a relatively short time until voting won't matter because they will control everything any way.
We have already gone beyond "1984" and Big Brother, way past that point. The US is only a few short steps from "Animal Farm".

Once with one, maybe more than once with more, Wells Fargo is allowing the entry of money by fraud. It is similar to laundering. Or, it is laundering. It is allowing money a result of getting by one looting and not earning nor owning the money from and off of a person whose money it is.There are good people or staff at the bank, too.there,too. The result of wickedness is allowing a continuity of no action against the perpetrators nor regetting the money to the innocent.

India recently moved to stop all 'black market' & as they put it 'black money' transactions. A move being postulated as necessary here (governments desire to eliminate any bill larger than a $20) for similar reasons to control bad people who deal in drugs and don't pay their fair share of the plunder and extortion known as taxation. The Indian government announced on November 8th at 8 pm (after the banks were closed) that all currency in the denomination of 500 to 1000 rupee would cease to be recognized as legal currency at midnight that day. It effectively destroyed any savings outside of any government accepted institutions. Overnight there was an inability for people to pay for basic services and needs such as transportation, food or other needs. Those who survive day to day by operating in the black market were already struggling to survive now don't know how to continue. Black markets have always actually been a free market that was not closely governed, taxed, licensed and etcetera to manage the slaves of the state and vilified by the state as being illegal and immoral simply because the state does not control it.
America is sliding ever so gently into a state where there won't be overseers with whips, there will be monitors placed on all transactions that are computer programs that will alert the state trustee that something is amiss because you have too much cash on hand in too large of denominations and that state will stop your illegal black market operations and get their control of your life by controlling your spending and how much of your property you get to keep. The control will be much worse than imagined in the book 1984 where some were able to manage to remain unobserved or undetected. Where will those who would be free go?

Remember the old saying, "That money is not worth the paper it's printed on?" Are we there yet? No? Then can I redeem this paper in silver or gold? No? How about platinum? Still no, eh?
Perhaps bankers know something I don't know.

Gone are the days when the bank manager recognized you as the guy who ran the shop around the corner and would give you an unsecured loan so you could purchase a special deal from a supplier and pay it back in 90 days.
I'm pretty much off the grid, but I feel sorry for those who have to deal with an increasingly restrictive future.

When I think "cash transactions" I think transactions where a bank isn't involved, as in you hand me money and I hand you think thing I'm selling. What am I missing?

There are reasons why safes have been selling like hotcakes in the Euro...

Bank of America in Austraila has now band cash transactions...this is what the central banks want, it's cheaper for them and the governments they control will know your every move. If the lights go out...you'll die and they keep your money.

Here in the US...they seem to like trumpet, looking forward to higher interest rate and repeal of Dodd Frank. If that happens we will begin to heal and they won't be taking your money in your account to bail themselves out.

It's anyone's guess right now.