Porn Bank Accounts Closed

GBFan

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A bank has got hundreds of porn stars hot and fired up after writing to them to tell them their bank accounts would be closed, News.com.au reports.

The move has sparked fury throughout the adult entertainment industry with workers saying they had no idea why they were being targeted.

Chase bank sent letters to industry workers revealing the accounts would be closed next month.
In the letters sent out by the bank, which is a subsidiary of JP Morgan Chase, no reason is given for the closure but an apology is given for the inconvenience.

“We recently reviewed your account and determined that we will be closing it on May 11, 2014,” it reads.

“You may close your account before the date we’ve provided. Your account agreement says that either of us may close your account at any time, without notice and without a reason,” the letter states.

Porn star Teagan Presley said her account was closed and she was turned down when she tried to open another one.

“I called them and they told me that because I am, I guess, public and am recognizable in the adult business, they’re closing my account,” she told adult industry site XBiz News.

It was unknown exactly how many workers have been affected, however adult industry lawyer Michael Fattoros said banks had closed accounts belonging to industry workers in the past, though “not on this scale”.

The letter was originally published by celebrity blogger Perez Hilton who also noted a lawsuit was filed against JP Morgan Chase last year.

The lawsuit filed by porn studio MRG Entertainment claimed the bank violated fair lending laws and its own policy for “refusing to underwrite a loan for ‘moral reasons’.”
 
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While this is a cute subject ... and I don't know what I'm going to do with the extra money I send them every month ... this is, actually, a very serious issue.

When do corporations/businesses have the authority to impose moral judgment on its clients?
 
When their clients agree to actions if this kind for no reason. Seems quite possible that they were threatened with some manner of boycot action and associated pr. Companies run scared from pr in a shitty economy. Moral of the story: read the fine print.
 
When their clients agree to actions if this kind for no reason. Seems quite possible that they were threatened with some manner of boycot action and associated pr. Companies run scared from pr in a shitty economy. Moral of the story: read the fine print.

And, how does this correlate to the refusal to make cakes for gay weddings? Seems to me, it is the same argument ...
 
How so? What did they agree to?
All term associated with establishing an account including the one that says either party can close the account at any time for any reason or no reason at all.
This is typically seen as a positive for the consumer eliminating redtape should they wish to close an account. But its also good for the banl to br able to walk away from abad situation.
 
All term associated with establishing an account including the one that says either party can close the account at any time for any reason or no reason at all.
This is typically seen as a positive for the consumer eliminating redtape should they wish to close an account. But its also good for the banl to br able to walk away from abad situation.

So, if I have a statement in my purchase contract that says I can refuse to bake a wedding cake for a gay couple, they have no grounds to sue???
 
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So, if I have a statement in my purchase contract that says I can refuse to bake a wedding cake for a gay couple, they have no grounds to sue???
If you had a signed contract that stipulated either party could void the contract for any reason or no reason at all (apples to apples) and you the baker decide tp void the contract for any reason or no reason at all then they are without grounds.
 
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