Tyrants traditionally lash out at any number of people and groups they find dangerous or inconvenient: churches, entrepreneurs, voluntary associations, you name it. In America, our government has been having difficulty not showing some amazingly tyrannical leanings. Mass spying and data accumulation, partisan tax programs, and now
In the Wall Street Journal, Frank Keating, CEO of the American Banking Association, wrote that government officials in this wing of the U.S. Department of Justice are “asking banks to identify customers who may be breaking the law or simply doing something government officials don’t like. Banks must then ‘choke off’ those customers’ access to financial services, shutting down their accounts.”
Teagan Presley, “adult film” actress and stripper, had her Chase account abruptly closed — along with her husband’s. She was told that she was “high risk.” Other adult industry professionals have revealed similar treatment.
Don’t blame the banks; they’re being coerced by the DOJ. According to Keating, a bank that won’t “shut down a questionable account when directed to do so, Justice slaps the institution with a penalty for wrongdoing that may or may not have happened.”
As distasteful as the porn industry may be, this DOJ program is worse. It’s full-blown rogue government.
It may have been designed to prosecute those breaking the law via fraud and identity theft, but its modus operandi is outside the law, bullying regulated banks into punishing other businesses and people, without any court proceedings taking place.
This is Common Sense. I’m Paul Jacob.