I’ve written before about issues around payment processors and the sex industry, how businesses like Paypal, WePay and Google Wallet were shutting anyone they suspected of sex work out of using their services.
Well, turns out that a trickle down effect is happening within the banking world, as Chase recently sent letters out to hundreds of porn performers telling them their bank accounts would be shut down May 11th. Perez Hilton posted a photo of one of these letters from adult performer Teagan Presley, and while I am somewhat loath to link to his blog, I think it’s important to read the language. You’ll notice that Chase never specifically cites adult work in their decision, just that they “reviewed the account and determined that we will be closing it on May 11, 2014. Please accept our apologies for the inconvenience.”
I’m sure they’re terribly sorry. Just as they were really apologetic for refusing to process payments for Lovability CEO Tiffany Gaines. Her crime? Selling condoms, because they’re “adult-oriented material”. The same adult oriented material, of course, as Trojan, who could process their payments with no issues through Chase, but never mind. As long as they’re really sorry about it. Keep reading »