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The Bizarre Reason Porn Stars Are Being Blocked From Using U.S. Banks

FROM: http://www.policymic.com/articles/88781 ... -u-s-banks

By Eileen Shim May 2, 2014

The Bizarre Reason Porn Stars Are Being Blocked From Using U.S. Banks

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The news: Last week Chase Bank informed hundreds of their customers, who happened to be porn stars, that their accounts will soon be closed down. It seemed odd at the time for a major banking company to pull such a move, especially since Chase has failed to provide a clear rationale.

But already Chase's anti-porn movement has a new partner: PayPal. In the last few days, several adult performers reported that their accounts have been closed down by the online payment company, with little to no explanation.

Angry former customers have taken to Twitter to cry foul against these institutions, but it may be that they had little say in the matter. New reports now indicate that another organization is actually orchestrating the mass closure of porn star accounts: the U.S. government.
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What is going on? In order to understand what's happening with porn stars' bank accounts, you first have to learn about "Operation Choke Point." It sounds kinky, but it's actually a secretive effort spearheaded by the U.S. Department of Justice to shut down shady businesses, such as payday lenders and online scammers.

According to American Bankers Association CEO Frank Keating, the DOJ is essentially "telling bankers to behave like policemen and judges" and shut down accounts of "high-risk" customers or businesses.

"Operation Choke Point is asking banks to identify customers who may be breaking the law or simply doing something government officials don't like," Keating wrote in a Wall Street Journal op-ed (paywall).

"Banks must then 'choke off' those customers' access to financial services, shutting down their accounts."

And lo and behold, according to the Federal Deposit Insurance Corporation, pornography is listed under its list of businesses that are at "high risk" for fraud, alongside ammunition and firearm sales, drug paraphernalia, escort services, Ponzi schemes and even dating services.

Banks are not happy either. These companies are all legal businesses, but with "Operation Choke Point," the DOJ is shutting them down by forcing banks to deny their service. And that makes for a troubling reality: While the government is understandably concerned about shady scams, it is essentially coercing private businesses to carry out its subjective, moral agenda.

For banks, it's an unnecessary burden on their operations. Twenty-three bipartisan members of Congress have already written a letter to the DOJ to complain on behalf of these legal businesses. But for now, they have no choice but to comply. "If a bank doesn'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," wrote Keating.

That means that all of a sudden, law-abiding porn stars with legitimate businesses can lose their banking service overnight. PayPal's account closures are especially inconvenient for webcam stars and other adult performers who depend on online transactions for their livelihood. But according to the U.S. government, they are no better than online scammers — and as such, do not even deserve the privilege of banking at a reputable institution.

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Eileen Shim
Eileen is a writer living in New York. She studied comparative literature and international studies at Yale University, and enjoys writing about the intersection of culture and politics.

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Misty Shakleford 16 hours ago
Everyone is acting like the list of targeted businesses won't be constantly expanding. Watch.
That's why about 2 years ago, I began removing my money from my banks to fire proof boxes. I now only have a small amount in each account just to make it look good. Screw the govn't.
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am de 2 days ago
Here's a great article on prostitution. http://feministcurrent.com/8347/10-myth ... dic-model/ No, it's not any kind of meaningful choice. No little girl grows up hoping she will have a grunting, sweating stranger empty his balls into her vagina, mouth or anus. If you disagree, we know what you are. If you have been abusing women by renting their orifices it's not too late to become a decent person.
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Herbert Peters 2 days ago
US going down the Saudi Arabian way - moral policing! May be they should import some of Saudi Religious police to enforce christian or muslim moral values.
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Heather Barron 2 days ago
There is nothing tying Operation Choke Point to specific closures -- that is all speculation. Operation Chokepoint is designed to go after fraud and money laundering. Period. Anyone saying it's acting as a morality police is stepping beyond what the evidence says.

In case anyone hadn't noticed, one of the biggest areas of credit card fraud comes from porn operations; it's a high-risk business, with up to 50% of transactions being fraud. So it does not surprise me that the name "Operation Chokepoint" comes up again and again with regard to these closures, but Occam's Razor say it's because the chargeback rate was too high; not because morals are being policed. How many other pr0n producers has this Administration gone after? Why, none...
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Jason Martin 2 days ago
This is all different kinds of not right. If a business is legal - even if it's seen as "shady" - it isn't the government's business to tell banks who they can and can't do business with! The best the government SHOULD be able to do is issue a warning to people. Then, it's caveat emptor time.
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????? ???? 3 days ago
So banks are afraid of government penalties now? To say that banks aren't happy taking the government's orders is like saying a teenager isn't happy doing their chores after receiving their parents' money.
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Arga Gabriel 3 days ago
Now people are being judged by "suspicions"? maybe I understand if this is somalia, but US?
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David Dena Wiseman 3 days ago
Government cant legally do this and we all know this.
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Michael Perry 3 days ago
So much for Chasing freedom
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Jamie Bennett 3 days ago
If your husband or wife isn't watching porn they may be cheating on you with a real person......You pick

If you or our mate see another and even imagine having any form of sexual relations with that person, be in the movies, on paper, internet, or in person.....You are cheating on them, mental or physical same thing. if you don't believe me see what happens when your having sex and they call out another persons name.
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