Banks to porn stars: Your money's not welcome

[The Straight Story]

Chanel Preston knows not everyone approves of her chosen profession. That's one of the risks that go with being one of the biggest stars in porn. But she never thought it would affect her ability to open a bank account.

Preston recently opened a business account with City National Bank in Los Angeles. When she went to deposit checks into the account days later, however, she was told it had been shut down, due to "compliance issues".

She found the manager she had originally worked with and asked what had happened. The bank, she was told, was worried about the Webcam shows she had on her site and had revoked the account.

(City National declined to comment on Preston's accusations and on whether it had any policy regarding accounts tied to the porn industry.)

Preston is hardly the only porn star who has had trouble with the banking industry. Several performers and porn insiders (who were afraid to go on the record due to possible repercussions from their banks) said they have been denied accounts from a variety of financial institutions.

http://www.nbcnews.com/business/banks-porn-stars-your-moneys-not-welcome-1C9967366

[Bay Boy]

1. Was this a personal account?

And when did banks get a conscience? Even a misdirected one is a surprise.

[jeff47]

9. Uh...it says in the quoted snippet.

Preston recently opened a business account

[Bay Boy]

11. LOL

So now I have to read the article to get the info I want?

[dembotoz]

16. a business account would make sense-i am sure she is an llc

independent contractor??

[whathehell]

2. Is the money from their sale and distribution welcome?

I'm betting it is...Typical Double Standard hypocrisy.

[Xyzse]

3. I sure hope they gave the money back?

Plus some return.

[The Straight Story]

4. Banks can steal money and not give it back (though they are being sued over it)

The law let's em keep your money if you make a mistake in calculating a deposit and they don't have to tell you or give it back. If you do the same when the bank gives you too much money you can go to jail.

So yeah, I wouldn't be surprised if they kept it.

[Xyzse]

10. That's awful.

[olddots]

5. L.A. banks were very unhelpfull to everybody they did n't like the look of

this goes back to the 50s so sometimes you have to start an account at a bank the check is written from.

there seems to be no way around it ,the banks have the lawyers and money .

[Initech]

6. Oh yeah? Well I'll form my own bank, with blackjack, and hookers, and porn stars!

On second thought forget about the bank!!

[LeftinOH]

7. How are the banks going to know what they do? They don't

use their "industry names" (presumably) to conduct personal business. Their occupation (if given) would simply be "actor" or "entertainer".

[HappyMe]

8. Oh ffs!

A customer is a customer.

So all of a sudden a bank is the damn Morals Police.

[Mopar151]

12. Move to a credit union

Or start one to serve the industry - cash management geared to online sales, etc, etc.

[milestogo]

13. Banks are worried about the purity of our income sources?

Who knew?

[kelliekat44]

14. But they love that well-protected drug money! nt

[zazen]

15. yes! plus, I'm guessing pimps get to deposit their money all the time n/t

[booley]

17. Credit Cards have been doing this for years

If they don't like your business and you aren't making tons of money for them, they tell the company that handles your internet sales to drop you and they do it since they cant' afford to not be able to process cards like Visa.

Meanwhile Pay pal just shuts down your account and keeps the money until you beg for it back.

And NO, I am NOT talking about illegal businesses.

[Yavin4]

18. Banks: "Screwing customers is our thing."

"We don't want no competition."

[closeupready]

19. There's a congressperson joke here somewhere,

I'll let someone else give it a try, lol.