Is the DOJ Forcing Banks to Terminate the Accounts of Porn Stars?

[Nuclear Unicorn]

Is the DOJ Forcing Banks to Terminate the Accounts of Porn Stars?

This past Monday, porn star Teagan Presley arrived home in Las Vegas from yet another whirlwind strip club appearance tour and found a letter from her bank.

Chase was closing her account, which was listed under her legal name, as well as the account of her husband.

When Presley went to the bank in person to ask why, she was told it’s because she’s considered “high risk.”

“And then they told me that they canceled my husband’s account too, because our social security numbers are linked,” Presley told VICE News. “They told him that it was because I’m a notorious adult star. Which is funny, because I’m kind of a goody-goody in the business, and I’m not even doing porn anymore.”

...

In May 2013, CNBC wrote about actress Chanel Preston’s sudden account termination at Los Angeles’ City National Bank, and porn studio head Marc Greenberg’s lawsuit against JP Morgan Chase for violation of fair lending laws. Greenberg wanted to refinance his longstanding home loan, and said a JP Morgan vice president told him he was being declined for moral issues.

https://news.vice.com/articles/is-the-doj-forcing-banks-to-terminate-the-accounts-of-porn-stars?trk_source=homepage-in-the-news

It's not like they could claim Greenberg was a risk of non-repayment. "I'm sorry sir, but our actuaries just don't think sex will be all that popular in the near future."

[Orrex]

1. They were worried about premature withdrawal

Not enough had currency, perhaps.

[Nuclear Unicorn]

2. Nonsense.

The money shot requires a withdrawal.

[Skittles]

7. SCHEDULING ORREX AND NUCLEAR UNICORN FOR DUO ASSKICKING

*EGREGIOUS*

[LadyHawkAZ]

3. Well, they did SAY there would be penalties for that...

[lame54]

8. The penalties come from not withdrawing

[cthulu2016]

4. This is not much different from closing the accounts of women who have abortions

Some folks will think its funny, because people are mostly about eight years old, but a bank closing someone's account because of that bank's view of a person's morality is astonishing, if true.

An established history of bank fraud, or criminal money laundering? Sure. Being generally immoral? No.

[Nuclear Unicorn]

9. It's worse because it's the government leaning on the banks.

A competing bank would probably say, "We'll take your money!" but not if the DOJ is playing Puritan Police.

[unblock]

5. ah, just the thought of a jpmorganchase bankster lecturing customers about moral issues!

[LadyHawkAZ]

6. Not a new thing- IIRC that's how Insex got shut down n/t