Debanking now abolished thanks to new executive order??
(twitter.com)
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180 days???
Do it next week or gtfo
I hate that giant megacorps are given such ridiculous leeway for their abuses. An individual pleb would never be given such generous terms.
I could see 90. "By next quarter, this shit needs to be gone."
180, though? That's ancient history by day-trading standards.
Looking into the executive order, it DELIBERATELY attacks using 'reputational harm' as a reason to debank someone, the current main excuses of Visa and Mastercard.
Here's a short video talking about it.
Basically they can't use feelings to justify it anymore, they actually have to provide ACTUAL numbers for damages to prove the reason and they don't want to do that as something like onlyfans would be in MUCH greater risk than games and anime.
Does this affect Visa, Mastercard and Paypal? They're technically not banks but payment services, aren't they?
Link
It’s a financial service provider so it counts.
Haven't looked at the EO, but it's a different issue, so unless this addresses both, an anti-debanking rule wouldn't stop that.
They generally don't go after individuals, they dictate what everyone can purchase or sell. So it's not debanking, it's a different angle of censorious attack.
Also would obliterate the payment processor federal dictatorship?
Feels fitting that Vara Dark has the scoop on this too with the ludicrous level she was spammed on original KiA.
edit: sorry Galean. lol
I had no idea who she was & was worried she was some pro-gooner leftist when she started talking about Steam censorship.
But then I saw she guested with Stuttering Craig this afternoon, which made me relax as that's at least partial vetting for not being a total troon loving freak.
I haven't seen any mention of an enforcement mechanism anywhere with this EO. Only forcing financial institutions to amend their ToS within 6 months.
A good first step, but toothless without a direct & streamlined way for the aggrieved to have the feds hold multinational financial institutions to account.
The video in another thread comment suggests that consumers can still be denied for financial risk parameters. This seems like another loophole where controversial figures are still declared to great a "risk" to do business with, only the semantics changed from reputational to financial risk.
Many of the non-US political figures I've seen debanked simply received a random letter one day declaring an end to their business relationship & an imminent closure of all their accounts because the financial institution did an analysis & deemed them to be "too great of a risk".
There's also the question of new vs ongoing business. Most of the debanking cases involve an existing customer suddenly being denied service because of political views. But what about new sign-ups? Does a financial institution have the right to deny someone who isn't a customer a new account for any reason whatsoever by freedom of association?
It's already illegal.
The EO basically says "The Secretary of the Treasury and the head of the Small Business Administration have to start doing their congressionally mandated jobs. They have 1 month to start, 3 months to impress me, and 6 months to be done."
From what I recall about Josh Moon from KiwiFarms ranting about the payment processors & debanking pre-Trump EO, what he said is that even if you could convince the DOJ or whomever to get off their asses & enforce existing laws about discrimination about 1A, political speech, etc, the process involves the feds actually having to push each individual case through the court system.
And the fines on the books capped out at something like 5-10k for Visa & Mastercard processing trillions, so the actual consequences are laughable even if one were to pursue justice to its very unlikely lawfare conclusion.
I know this isn't what you mean, but yea, I personally think he earned that rant.
They need to have the fines raised and their fees capped. Visa: $35B revenue, $20B profit. MC: $28B revenue, $13B profit. That is outrageous. They do next to nothing. Nearly nothing now that the internet exists and can easily be delivered via LEO satellite.
I hate nationalizing things but we already have a national check clearing house. What the fuck are we even doing with this bullshit in 2025?
Agreed. This is one of the few areas where nationalisation makes sense, in my opinion.
All Trump's executive orders are toothless, voided, and expire. https://communities.win/c/ConsumeProduct/p/19BtPqNfWd/breaking-president-trump-has-jus/c
Are the current controversies a deliberate problem,reaction, solution for something?
won't this just be used to prevent any alternative banks from refusing to bake the gay cake? we already have anti-discrimination laws in theory, but everyone knows Whites get discriminated against all the time and it's only illegal to discriminate against non-Whites.
I've never heard of alternative banks denying accounts based on morality, or the notion of a conservative bank in general
indeed you haven't, as you're too busy trying to get the jew puppet to get the jew banksters not to hate you and want to kill you. perhaps with a little more free time not spent being fucked with by a bunch of senile demons you could have made that alternative bank yourself.
Really? "Just make your own bank"?
yeah, motherfucker, make our own bank. what the fuck do you think is the end-game? gee, we'll just topple all these pedophile elites and then... uhh... i don't know, give all the power back to them. we'll really give it to them if we just phone their support lines harder!
no. make our own banks. our own wells, water treatment facilities, hospitals, schools, local governments, police departments. you know why they're fighting that Return To The Land thing so vehemently, or Orania down in South Africa?
because it's the only thing that can actually defeat them. when we stop depending on them for everything, that's the only time we can really focus on how we can stop them from ever attacking us again.
i'm not saying you can do all that tomorrow - Rome wasn't built in a day - but the idea that you'll ever get the satanists in power to tweat you nwicely pwetty pwease is fucking pathetic and i'm tired of seeing it from people who should know better.
Why not both?