When you connect to your bank the transmission is encrypted but your bank has the data available in cleartext.
When you use your smartphone to call someone or send a text the transmission is encrypted over the air but your operator has access to the data in cleartext, and there is in fact a system in place to duplicate traffic for police eavesdropping. You have privacy, your bank/operator doesn't abuse data they have, and the police is able to request access within the law.
This has existed for decades, it is accepted, it works.
The issue is that some tech companies (cough Facebook cough, but not only them) have abused the access they have to data and shot their reputation in the process, so now they are trying to salvage the situation by saying "Oh but we now have E2E so you can still use our services"... No-one trusts anyone, and that destroys the established balance between privacy and law enforcement/national security.
When you connect to your bank the transmission is encrypted but your bank has the data available in cleartext.
When you use your smartphone to call someone or send a text the transmission is encrypted over the air but your operator has access to the data in cleartext, and there is in fact a system in place to duplicate traffic for police eavesdropping. You have privacy, your bank/operator doesn't abuse data they have, and the police is able to request access within the law.
This has existed for decades, it is accepted, it works.
The issue is that some tech companies (cough Facebook cough, but not only them) have abused the access they have to data and shot their reputation in the process, so now they are trying to salvage the situation by saying "Oh but we now have E2E so you can still use our services"... No-one trusts anyone, and that destroys the established balance between privacy and law enforcement/national security.