Chase Bank Says No To Porn

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Chase Bank Says No To Porn
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 Bahamut.Baconwrap
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By Bahamut.Baconwrap 2014-04-24 18:27:03
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Chase Bank Is Shutting Down Porn Actors' Bank Accounts



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Reportedly, Chase Bank recently sent letters to hundreds of porn performers informing them that their accounts will be shut down by mid-May. This isn't the first time Chase has targeted those who work in the adult industry — and, sadly, I doubt it will be the last.

According to Perez Hilton (I know, I'm sorry), hundreds of letters went out to members of the adult industry informing them, "We recently reviewed your account and determined that it will be closing on May 11, 2014." The letter goes on to apologize for the inconvenience and instruct the recipient to cancel all automatic deposits and withdrawals.

Sex work is never specifically mentioned, but — as Kitty Stryker points out at The Frisky — Chase has a dubious history of discriminating against people in the adult industry (and even people who just do work that's related to sexuality). Last year, for instance, Chase refused to process payments for Lovability, a company that sells condoms and promotes female sexual empowerment, because condoms are "adult-oriented material" and thus a "reputational risk." After Lovability CEO Tiffany Gaines engaged in a high-profile protest against the company, the bank agreed to process Lovability's payments — but, notably, not to remove condoms from the "prohibited adult" category. Gaines responded to this decision on xoJane:

Chase's ability to pass judgment calls on what we can buy and sell is a breach of everyone's rights... We cannot allow any large corporations like Chase bank to get away with governing our ability to take responsibility for our sexual health.
A month after this, former softcore porn producer Marc L. Greenberg sued Chase for refusing to underwrite a loan for "moral reasons." Greenberg approached the bank for help refinancing one of his properties; although he had an annual income of $500,000 and a net worth of $10 million, his request was ignored for four months. Finally, a high-ranking official at the bank told him that his loan application had been refused due to "JPMorgan's disapproval of plaintiff's former source of income and occupation as an owner of a television production company that produced television programs that dealt with the subject of human sexuality." It doesn't matter if the money is legally earned: if it has anything to do with sex, Chase views it as sordid.
 Shiva.Onorgul
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By Shiva.Onorgul 2014-04-24 18:28:49
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/sigh
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By Darkalenia 2014-04-24 18:38:26
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If anything the bank should be glad they have such valuable clients banking with them, it means more money for them in general.
 Shiva.Viciousss
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By Shiva.Viciousss 2014-04-24 18:46:56
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Seems pretty UnAmerican of Chase Bank.
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 Bahamut.Baconwrap
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By Bahamut.Baconwrap 2014-04-24 18:49:14
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Shiva.Viciousss said: »
Seems pretty UnAmerican of Chase Bank.

 Sylph.Tigerwoods
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By Sylph.Tigerwoods 2014-04-24 18:49:22
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Correct me if I'm wrong, but unless they're not targeting protected groups (blacks, religious, etc.), aren't they allowed to refuse service to anyone they choose?
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 Shiva.Viciousss
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By Shiva.Viciousss 2014-04-24 18:59:51
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They are, its just dumb to do so. It brings bad publicity and loss of profits.
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 Asura.Echandra
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By Asura.Echandra 2014-04-24 19:05:10
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just gives other places new clients to welcome with open arms! Moral high ground...LOL
 Shiva.Onorgul
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By Shiva.Onorgul 2014-04-24 19:05:48
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It's ironic that they worry someone will care that a condom seller or pornography producer banking with them will produce bad publicity, so instead they almost go out of their way to let everyone know that people in sex-related industries have accounts.

But, yeah, considering how much money sexually-oriented and sex-related industries make, it's about as sensible as refusing to bank with Microsoft or big oil or something.
 Bahamut.Baconwrap
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By Bahamut.Baconwrap 2014-04-24 19:07:58
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Shiva.Viciousss said: »
They are, its just dumb to do so. It brings bad publicity and loss of profits.

I actually support Chases decision to do so, assuming this article is true. I have friends who work and who've worked in the Adult film industry. Since Adult Industry Medical Health Care Foundation(AIM) filed for bankruptcy there is no standardized method for STI/HIV testing for adult film workers. So we now see workers contracting Hep C and HIV constantly. Additionally, a lot of these companies are exploiting individuals in foreign countries.
 Odin.Zicdeh
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By Odin.Zicdeh 2014-04-24 19:08:15
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I read the article as "Please forget we had a hand to play in the financial collapse."
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 Shiva.Viciousss
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By Shiva.Viciousss 2014-04-24 19:12:21
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Bahamut.Baconwrap said: »
Shiva.Viciousss said: »
They are, its just dumb to do so. It brings bad publicity and loss of profits.

I actually support Chases decision to do so, assuming this article is true. I have friends who work and who've worked in the Adult film industry. Since Adult Industry Medical Health Care Foundation(AIM) filed for bankruptcy there is no standardized method for STI/HIV testing for adult film workers. So we now see workers contracting Hep C and HIV constantly. Additionally, a lot of these companies are exploiting individuals in foreign countries.

What does that have to do with the individuals who just want to deposit a check?
 
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 Bahamut.Baconwrap
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By Bahamut.Baconwrap 2014-04-24 19:20:24
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Shiva.Viciousss said: »
What does that have to do with the individuals who just want to deposit a check?

I personally would not want my business associated with an industry that exploits it's workers and places them in physical harm. That industry and it's employees can do their banking business elsewhere.
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By Fyyvoaa 2014-04-24 19:20:30
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They must be allergic to money.
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 Sylph.Tigerwoods
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By Sylph.Tigerwoods 2014-04-24 19:22:56
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Bahamut.Baconwrap said: »
Shiva.Viciousss said: »
What does that have to do with the individuals who just want to deposit a check?

I personally would not want my business associated with an industry that exploits it's workers and places them in physical harm. That industry and it's employees can do their banking business elsewhere.
So the employees (the ones being exploited) don't deserve to have banking because they're being exploited?

You're placed in harm! We don't want to bank with yoU!
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 Bahamut.Baconwrap
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By Bahamut.Baconwrap 2014-04-24 19:25:20
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Siren.Josiahfk said: »
Bahamut.Baconwrap said: »
Shiva.Viciousss said: »
What does that have to do with the individuals who just want to deposit a check?

I personally would not want my business associated with an industry that exploits it's workers and places them in physical harm. That industry and it's employees can do their banking business elsewhere.
Is chase doing this to bring back the rights of the employees it's banning? Like their way of trying to force a new foundation in to help the workers?

It seems like two seperate issues so if they are joined somehow that's good news

I don't know but the Adult Industry has been under a lot of scrutiny in past years since AIM filed for bankruptcy. Measure B in Los Angeles County now prohibits adult films being w/o condoms from being filmed.

Sylph.Tigerwoods said: »
So the employees (the ones being exploited) don't deserve to have banking because they're being exploited?

You're placed in harm! We don't want to bank with yoU!
It depends whose the employee. Often the employee is the employer in the case of Jenna Jameson and Colton Ford. Adult actors don't receive residuals from films so they're often the owner of the company.
 Cerberus.Pleebo
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By Cerberus.Pleebo 2014-04-24 19:27:48
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Banks taking the moral high ground. That's worth quite a few lulz.
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 Ragnarok.Slyshen
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By Ragnarok.Slyshen 2014-04-24 19:29:32
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Wah wah wah, banks suck *** anyways, they just realized this?
 
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 Odin.Zicdeh
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By Odin.Zicdeh 2014-04-24 19:41:50
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Bahamut.Baconwrap said: »
Shiva.Viciousss said: »
What does that have to do with the individuals who just want to deposit a check?

I personally would not want my business associated with an industry that exploits it's workers and places them in physical harm. That industry and it's employees can do their banking business elsewhere.


You make it sound like they're being forced into the industry. At the end of the day, it's still a choice to ingest one or more *** and be filmed whilst doing it.

Considering how many do it to pay for college, surely they've got other employment skills by then.
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 Bahamut.Baconwrap
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By Bahamut.Baconwrap 2014-04-24 19:55:45
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Odin.Zicdeh said: »
Considering how many do it to pay for college, surely they've got other employment skills by then.

That is hardly how the porn industry works at all. It's more like sex slave labor. Where they go to Czech Republic or Brazil and pay some kid 50 bucks whose underage.

It USED TO BE LIKE THAT YEARS AGO. But why pay some "college girl" 200 bucks a scene when you can go to Brazil and pay some girl 40 bucks? Or find a girl in Bosnia or Ukraine and make her work for even less!
 Odin.Zicdeh
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By Odin.Zicdeh 2014-04-24 20:06:05
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Woosh
 Cerberus.Pleebo
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By Cerberus.Pleebo 2014-04-24 20:10:38
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Their refusal to do business with a company that promotes condom usage is incongruous with your entire argument though. It seems like their stance is "Eww, sex dirty" rather than some upstanding moral activism.
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 Bahamut.Baconwrap
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By Bahamut.Baconwrap 2014-04-24 20:12:59
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Cerberus.Pleebo said: »
Their refusal to do business with a company that promotes condom usage is incongruous with your entire argument though.

The industry does not promote condom usage hence why the film industry was anti Measure B here in California.

The San Fernando Valley in California aka the Porn Capital is part of Los Angeles County. They were protesting Measure B, very few industry employees supported Measure B. The only big individual in adult films who supported Measure was Jenna Jameson.
 Asura.Wyattdoc
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By Asura.Wyattdoc 2014-04-24 20:16:22
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Bahamut.Baconwrap said: »
Cerberus.Pleebo said: »
Their refusal to do business with a company that promotes condom usage is incongruous with your entire argument though.

The industry does not promote condom usage hence why the film industry was anti Measure B here in California.

The San Fernando Valley in California aka the Porn Capital is part of Los Angeles County. They were protesting Measure B, very few industry employees supported Measure B. The only big individual in adult films who supported Measure was Jenna Jameson.


pretyy sure he ment this

Chase refused to process payments for Lovability, a company that sells condoms and promotes female sexual empowerment, because condoms are "adult-oriented material" and thus a "reputational risk." After Lovability CEO Tiffany Gaines engaged in a high-profile protest against the company, the bank agreed to process Lovability's payments — but, notably, not to remove condoms from the "prohibited adult" category. Gaines responded to this decision on xoJane:
 Cerberus.Pleebo
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By Cerberus.Pleebo 2014-04-24 20:17:18
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I meant that company specifically mentioned in the OP, Lovability.
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By Odin.Zicdeh 2014-04-24 20:17:29
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Bahamut.Baconwrap said: »
Cerberus.Pleebo said: »
Their refusal to do business with a company that promotes condom usage is incongruous with your entire argument though.

The industry does not promote condom usage hence why the film industry was anti Measure B here in California.

The San Fernando Valley in California aka the Porn Capital is part of Los Angeles County.


One step closer to being SWAT'ed.


Seriously though, I'd like to point out that the article specifically mentions the actors, who are supposed to be the victims in all this according to you, so what's your angle? Who should I be mad at when I'm jerkin' it?
 Bahamut.Baconwrap
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By Bahamut.Baconwrap 2014-04-24 20:19:01
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Chase Bank recently sent letters to hundreds of porn performers informing them that their accounts will be shut down by mid-May. This

It didn't list the hundreds in that article when I read it...
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