Debanking now abolished thanks to new executive order??
(twitter.com)
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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.