Posted on 02/20/2022 1:20:13 PM PST by billorites
This past November, Missouri's conservative Defense of Liberty PAC scheduled a high-profile event featuring a speech by Donald Trump, Jr. On November 9, however, WePay—a JPMorgan Chase subsidiary that provided the payment services for the event—announced the termination of those services. WePay accused the organization of violating its policy against promotion of "hate, violence, racial intolerance, terrorism, the financial exploitation of a crime, or items or activities that encourage, promote facilitate or instruct others regarding the same." Although WePay eventually reversed its decision, the organization had to cancel the speech.
WePay's actions followed a series of similar incidents in recent years that includes the cancellation of former president Trump's personal bank account, Michael Flynn's credit cards and at least one Christian nonprofit organization. The fossil fuel and firearms industries have been targeted too. Businesses selling controversial materials have had their payments services terminated and consequently shuttered. The decisions to cancel these high-profile individuals or groups are often reversed after public outcry and dismissed as a "mistake" by the providers. But what about individual people who lack the public standing to fight back?
Once the province of colleges and social media, cancel culture has come to banking.
Today's "cancel culture" in banking doubles down on the Obama administration's infamous Operation Choke Point initiative. Pointing to the "reputational risk" of certain industries such as payday lenders, firearms dealers and purveyors of "racist materials," regulators leaned on banks to "choke off" the financial air those industries breathed. Not coincidentally, controversial industries and organizations favored by the Left, such as abortion clinics or sellers of communist propaganda, were not included on the administration's target list.
Why should anyone care if a "private" business such as Chase chooses to blackball a particular individual or industry—can't they just get financial services somewhere else?
(Excerpt) Read more at newsweek.com ...
Be prepping folks and take your $ out of any institution that cancels someone who doesn’t follow like a sheep.
I think cancel culture has always been a product of globalist finance, just getting more direct now, behave or else. The tell was how loose the term terrorist became. Man do I regret having ever supported Bush’s Patriot Act.
Crypto is quickly rendering traditional banks as irrelevant. Decentralized finance is the future. Can’t come quickly enough, I hope the thieves posing as Fifth Third Bank are the first ones out of a job.
I would suggest that if a bank cancels a customer (like Mike Lindell) over political views, they should lose their FDIC coverage and then let their remaining depositors decide how to respond to that.
-PJ
This is a preview of a cashless society with social credit scores. Step out of line and you wont be able to buy a pack of gum.
so can other banks who support Trump Refuse to do business with anyone that gives money to the domestic terrorists blm and antifa and ilk?
because those domestic terrorist groups AL< promote all of the following
“hate, violence, racial intolerance, terrorism, the financial exploitation of a crime, or items or activities that encourage, promote facilitate or instruct others regarding the same.”
The baker should have argued that they shouldn’t have to bake hte cake for hte gay peopel because the gay community indulges in soem of hte following which violates the bakerie’s policies
“hate, violence, racial intolerance, terrorism, the financial exploitation of a crime, or items or activities that encourage, promote facilitate or instruct others regarding the same.”
It was BT [Before Trump]. You were forced to vote for a CryptoGlobalist that hadn’t pulled his mask off yet - and you voted against known Commie terrorists AlGrrrr and John sKerry.
Certainly take any funds you have out of any national bank and keep it in a bank that you trust. It is your money. A few bank runs might sober up some of these drunk (on power) bankers.
Do the modern US-accessible crypto exchanges make it easy and cost effective to get in/out?
WePay and JP Morgan Chase should have their @$$es sued off for loss of revenue and punitive damages.
Canada canceled crypto - US next.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.