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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

#51

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.

I changed my DNS and it seems to work now.

I will try again from another system to see if it still works.

Thanks.

Re: Why banks are suddenly closing down customer accounts

#53
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…

Banking is not optional in today's advanced societies, and the sooner we recognize that, the sooner we'll have proper regulations mandating a minimum level of banking service, eg. Limited deposits, withdrawals, debit/secured cards.

Solution, bring back post office banking or banking through the social security admin. Turn 18 you get a banking and benefits card. Do that and most people won't ever have to do business with a private bank, ever.

Re: Why banks are suddenly closing down customer accounts

#54

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.

it's almost as if power doesn't want to do things democratically. who cares if it's the government with it's boot on my neck, or a corporation with a boot on my neck, either way, I'm getting trod on!

Re: Why banks are suddenly closing down customer accounts

#55

Earlier quoted context omitted.

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.

What DNS are you using?

Re: Why banks are suddenly closing down customer accounts

#57
post #14

It's remarkable how totalitarianism seeps in.

Read the comments on the article at the NYT, as well. Notice how many people take the banks' side.

Whatever happens to you is fine and dandy as long as it doesn't happen to them... and it probably won't happen to them.

Re: Why banks are suddenly closing down customer accounts

#58
Debanking is deeply unfair but more so in our society that is moving increasingly towards a cash-less society. A person can be debanked for no fault of their own and that causes them to be unable to pay rent, bills, etc. Like being arrested - there is little recourse without great expense or effort.

Re: Why banks are suddenly closing down customer accounts

#59

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.

You can also have your money and property seized without charge or conviction by police, while sitting on the side of the road.

https://www.theatlantic.com/politics/archive/2015/05/the-gla...

Re: Why banks are suddenly closing down customer accounts

#60
post #48
post #41

Banks hide behind Bank Secrecy Act and other regulations in order to debank people. Chase closed my account, and the reason Chase gave: "Financial institutions have an obligation to know our customers and monitor transactions that flow through our customers' accounts. After careful consideration, we decided to close your account because of unexpected activity on these or another Chase account." I didn't dispute any t…

I'm usually a crypto sceptic but your story scares me, because it'll only get worse with time.

Just a tip, stick with Bitcoin, not crypto.
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