OnlyFans has announced they will no longer allow "sexually-explicit content" beginning in October. They say that they're making the change to comply with the requests of their banking partners and payout providers.
Sound familiar? It should. The last time Biden was in the White House, the government instituted "Operation Chokepoint", a government program designed to put the squeeze on banks and payment networks to cut off services to legal--but politically unpopular--services.
"Operation Choke Point was real, and it exceeded legal limits. Overwhelming evidence, in the form of more than 900 pages of newly unsealed emails and depositions, proves government officials illegally targeted lawful businesses in an ideological crusade based on personal disdain. If there were other reasons at play, these regulators would not have needed to resort to backroom pressure tactics, including threatening the jobs of Federal Deposit Insurance Corp. officials and bank executives with criminal prosecution unless they cut off banking relationships with small-dollar lenders and other lawful businesses.
The small-dollar lending industry has long known that government bureaucrats with a partisan agenda were determined to bring the industry to its knees, but this illegal campaign went farther than anyone could have imagined — with those at the very highest levels of the Department of Justice, FDIC and Office of the Comptroller of the Currency targeting customers of regulated banks based on their personal bias."
https://www.americanbanker.com/opinion/theres-no-downplaying-the-impact-of-operation-choke-point
Sound familiar? It should. The last time Biden was in the White House, the government instituted "Operation Chokepoint", a government program designed to put the squeeze on banks and payment networks to cut off services to legal--but politically unpopular--services.
"Operation Choke Point was real, and it exceeded legal limits. Overwhelming evidence, in the form of more than 900 pages of newly unsealed emails and depositions, proves government officials illegally targeted lawful businesses in an ideological crusade based on personal disdain. If there were other reasons at play, these regulators would not have needed to resort to backroom pressure tactics, including threatening the jobs of Federal Deposit Insurance Corp. officials and bank executives with criminal prosecution unless they cut off banking relationships with small-dollar lenders and other lawful businesses.
The small-dollar lending industry has long known that government bureaucrats with a partisan agenda were determined to bring the industry to its knees, but this illegal campaign went farther than anyone could have imagined — with those at the very highest levels of the Department of Justice, FDIC and Office of the Comptroller of the Currency targeting customers of regulated banks based on their personal bias."
https://www.americanbanker.com/opinion/theres-no-downplaying-the-impact-of-operation-choke-point