Big-Bank Insider: Obama’s “Operation Choke Point” Isn’t Forcing Us to Close Porn Stars’ Accounts

WIN!

Last month, porn star Teagan Presley told Vice that JPMorgan Chase & Co. closed her account because the bank considered her “high-risk.” Then, on Wednesday, porn director David Lord told the Daily Beast that Chase sent him a letter notifying him that the bank was going to close his account on May 11. The Beast and Vice suggested that a secretive Justice Department program, “Operation Choke Point,” was behind the account closures. But a Chase insider familiar with the matter says that the initiative has nothing to do with the termination of these accounts.

“This has nothing to do with Operation Choke Point,” the source told Mother Jones. “There’s not a targeted effort to exit consumers’ accounts because of an affiliation with an industry [and] we have no policy that would prohibit a consumer from having a checking account because of an affiliation with this industry. We routinely exit consumers for a variety of reasons. For privacy reasons we can’t get into why.”

The porn stars’ allegations play into a narrative—pushed by banks and congressional Republicans—that the Obama administration is overstretching its authority by forcing banks to police the free market. Here’s the real story:

To read more, click on the blue link below….

Big-Bank Insider: Obama’s “Operation Choke Point” Isn’t Forcing Us to Close Porn Stars’ Accounts

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