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Why banks are suddenly closing down customer accounts

nytimes.com

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Re: Why banks are suddenly closing down customer accounts

#31

Post by noSyncCloud »

sneak wrote: post #25
wolverine876 wrote: post #8

You can be barred from flying (is that still true?) and now banking, without trial or evidence. It's already highly anti-democratic, but imagine what an aggressive, oppressive government will do with this power.

Banking is optional; the problem is that many businesses insist on bank cards to transact. It’s important that businesses be compelled to accept cash for all transactions. It’s particularly bad in some cities. Rather than enforcing access to the special hell that is US retail banking, just prohibit businesses from ripping out their existing cash infrastructure. Even with a bank account, your ability to transact is su…

Cash is absolutely subject to freezing/seizure. Try carrying $25,000 and letting the police search your vehicle.

Re: Why banks are suddenly closing down customer accounts

#32

Post by nickff »

slovette wrote: post #29
ciabattabread wrote: post #9

At minimum, there needs to be a law that requires banks to identify to the customer the specific transactions that led to the closing of the account. And if there’s no prosecution related to these transactions after a year, the ban gets lifted.

Ehm. No. Innocent until proven guilty, not guilt until proven innocent. Being de-platformed from financial infrastructure is tantamount to being economically jailed and instantly forced into life altering poverty. This isn’t some silly app you’re getting banned from… Banks shouldn’t be allowed to ban anyone. They should need a court order to lock up/ban someone from access/mobility of their own property. That said, t…

The government is the prime culprit when it comes to financially de-platforming people, if you want more secure access to banking, the solution is lighter regulation of banks, not more. Anti-money-laundering (AML) and so-called risk management regulations make it unprofitable and complicated to provided a mount services to many people. The government (and its regulatory bodies) use this ‘flexibility’ to achieve their aims (see operation Choke Point).

Re: Why banks are suddenly closing down customer accounts

#33

Post by Scoundreller »

noSyncCloud wrote: post #31
sneak wrote: post #25

Earlier quoted context omitted.

Banking is optional; the problem is that many businesses insist on bank cards to transact. It’s important that businesses be compelled to accept cash for all transactions. It’s particularly bad in some cities. Rather than enforcing access to the special hell that is US retail banking, just prohibit businesses from ripping out their existing cash infrastructure. Even with a bank account, your ability to transact is su…

Cash is absolutely subject to freezing/seizure. Try carrying $25,000 and letting the police search your vehicle.

> letting the police search your vehicle.

Good idea to decline those

Re: Why banks are suddenly closing down customer accounts

#34

Post by almatabata »

sneak wrote: post #25
wolverine876 wrote: post #8

You can be barred from flying (is that still true?) and now banking, without trial or evidence. It's already highly anti-democratic, but imagine what an aggressive, oppressive government will do with this power.

Banking is optional; the problem is that many businesses insist on bank cards to transact. It’s important that businesses be compelled to accept cash for all transactions. It’s particularly bad in some cities. Rather than enforcing access to the special hell that is US retail banking, just prohibit businesses from ripping out their existing cash infrastructure. Even with a bank account, your ability to transact is su…

I cannot get paid by my company without a bank account. No company would pay me my salary in cash. A bank account is no longer optional if you want to live a normal life.

Re: Why banks are suddenly closing down customer accounts

#35

Post by dustincoates »

unstatusthequo wrote: post #30
vfclists wrote: post #16

Earlier quoted context omitted.

[flagged]

Use NextDNS, makes DNS life better

I (and some others I know) have had myriad problems with NextDNS. I switched to ControlD a few weeks back, and it's working well so far.

Re: Why banks are suddenly closing down customer accounts

#37

Post by SllX »

almatabata wrote: post #34
sneak wrote: post #25

Earlier quoted context omitted.

Banking is optional; the problem is that many businesses insist on bank cards to transact. It’s important that businesses be compelled to accept cash for all transactions. It’s particularly bad in some cities. Rather than enforcing access to the special hell that is US retail banking, just prohibit businesses from ripping out their existing cash infrastructure. Even with a bank account, your ability to transact is su…

I cannot get paid by my company without a bank account. No company would pay me my salary in cash. A bank account is no longer optional if you want to live a normal life.

If they issue you a check you can take it to the banking institution listed on the check and they will honor it. The downside is, now you’re dealing with cash (and some companies went DD only a long time ago).

Re: Why banks are suddenly closing down customer accounts

#38

Post by Rewrap3643 »

dustincoates wrote: post #35
unstatusthequo wrote: post #30

Earlier quoted context omitted.

Use NextDNS, makes DNS life better

I (and some others I know) have had myriad problems with NextDNS. I switched to ControlD a few weeks back, and it's working well so far.

NextDNS works fine for me.

Re: Why banks are suddenly closing down customer accounts

#39

Post by rkagerer »

capableweb wrote: post #18
vfclists wrote: post #16

Earlier quoted context omitted.

[flagged]

Not everyone is using CloudFlare's DNS. These archive links work perfectly fine for me and I'm happy people post them.

Yeah. They seem to work for me, too. There was a few weeks where one of my devices got trapped in the loop gp described and it was very frustrating. I am not using Cloudflare DNS.

Re: Why banks are suddenly closing down customer accounts

#40

Post by comte7092 »

noSyncCloud wrote: post #31
sneak wrote: post #25

Earlier quoted context omitted.

Banking is optional; the problem is that many businesses insist on bank cards to transact. It’s important that businesses be compelled to accept cash for all transactions. It’s particularly bad in some cities. Rather than enforcing access to the special hell that is US retail banking, just prohibit businesses from ripping out their existing cash infrastructure. Even with a bank account, your ability to transact is su…

Cash is absolutely subject to freezing/seizure. Try carrying $25,000 and letting the police search your vehicle.

I mean, why would you ever “let” them do that? Either they are doing a compulsory search or they aren’t getting permission.
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