Obama’s DOJ Pressuring Banks To Close Porn Star’s Accounts

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April 30, 2014 11:11am PST

The Department of Justice has been using its authority to strong arm banks into dropping the accounts of customers it may deem undesirable through what’s called “Operation Choke Point.”

With Operation Choke Point, the DOJ is going after legal but not so desirable business ventures by getting banks to either refuse business to them or drop their existing accounts, even if they’ve been in perfect financial standing.

According to Reason.com, the “DOJ is coercing private businesses in an attempt to centrally engineer the American marketplace based on its own politically biased moral judgments. Targeted business categories so far have included payday lenders, ammunition sales, dating services, purveyors of drug paraphernalia, and online gambling sites.”

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The CEO of the Electronic Transactions Association, Jason Oxman, wrote a piece for The Hill regarding this very practice that said “Operation Chokepoint is flooding payments companies that provide processing service to those industries with subpoenas, civil investigative demands, and other burdensome and costly legal demands.”

Their theory is that they’ll make the legal and compliance costs of serving merchants that they’re either morally or politically against unreasonable which will in turn cause payment processors to stop providing them with services, effectively crippling whatever businesses are affected. What chilling about this is that these businesses are engaged in perfectly legal trades, and what’s even more chilling is that the plan is actually working as intended.

According to Reason, the most frequently targeted have been payday lenders to this point but they make a good point, if it’s payday lenders today then who will it be tomorrow? As it is, if you’re in firearm sales or anything to do with firearms, most payment processors won’t do business with you which I know from experience.

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Apparently just last week, an unknown number of people within the adult film industry all had their bank accounts canceled out of the blue by Chase bank.

According to Vice News, one of those people was Teagan Presley, who upon visiting the bank in person was told that her account was “high risk” and that’s why it was terminated. While the direct link between Operation Choke Point and porn industry professionals getting their accounts shut down can’t be established the likelihood of it is very high, as was noted by Vice News who reached out to the DOJ for comment and never received a reply.

The mere thought of the DOJ creating such a plan and enacting it presents a real problem for our nation. Such abuses of regulatory authority cannot be tolerated nor should the DOJ be arbitrarily deciding which industries they should be targeting. Whether it’s firearms or adult films, they have no right to unfairly punish legal trades simply because they do not like them.

Do you think this should stop? Let us know with a comment!

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