[2014-04-26] CNBC: Chase Banks closing accounts of porn stars: Report

[SirWilliam]

CNBC: Chase Banks closing accounts of porn stars: Report

http://www.cnbc.com/id/101616944
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"Chase Bank is closing the accounts of hundreds of people who work in the adult industry, according to multiple reports

Celebrity blogger Perez Hilton posted images of the letters reportedly sent to stars in the adult industry informing them of the account closings. Hilton reported that the accounts would be closed on May 11, 2014.

Adult industry publication XBIZ also reported on the account closings, including an interview with one of the women whose account is slated for termination, porn star Teagan Presley.

XBIZ reported that they had not been able to reach Chase for comment.

TMZ.com reported Friday that Chase had closed the account of porn star Layton Benton, who told the site that Chase said her account was "a risk." Citing sources, the site reported that Chase is targeting specific types of transactions such as deposits from webcam shows."
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Just goes to show, for those doomsayers who think it's so uniquely catastrophic when banks close bitcoin-related accounts in various countries, good 'ol US banks close the accounts of individuals and businesses from ENTIRE LEGAL INDUSTRIES just to reduce "risk." all the time. No wonder porn is moving so strongly into bitcoin payments and commerce...

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[CoinMode]

JP Morgan must have truly been a demon-hearted leviathon to have his evil spirit maintain for so long.

[Bit_Happy]

JP Morgan must have truly been a demon-hearted leviathon to have his evil spirit maintain for so long.

Shhhhh...
He can still hear you, don't you know?



Closing all those accounts is crazy.

[bryant.coleman]

They should have moved to Bitcoin long ago. Instead they chose to stick with the banks. And as a result, now they are facing account closures and freezing of their funds. So sad. 

[tins]

They should have moved to Bitcoin long ago. Instead they chose to stick with the banks. And as a result, now they are facing account closures and freezing of their funds. So sad. 

The article didn't say anything about funds being frozen. I googled it too and didn't find anything of the sort.
Granted, the whole thing is ridiculous, but nobody is losing their money. Just being told to take it somewhere else.

[bryant.coleman]

The article didn't say anything about funds being frozen.

I just suggested one of the possibilities. If they can terminate the bank accounts, then for sure they can freeze the funds also. And this freeze can be for one day, one week, or even for one year.

[counter]

This is why I like Bitcoin.  The bank should have made it clear when the account was opened to avoid all this.  I think Chase should be sued.

[Wilikon]

This is why I like Bitcoin.  The bank should have made it clear when the account was opened to avoid all this.  I think Chase should be sued.

Cant' be sued when no one reads the fine prints, especially not 18 year old pornstars...