Quote:
Originally Posted by marcop
I think what happened in my case is that the Fed shut down the bank I was originally with (because of bad loans), and it was taken over by a new bank (which is what usually happens). The new regime then started looking at the customers they'd inherited, and I popped up on a compliance officer's computer screen. Someone I know who is only peripherally in the biz was also terminated by the new bank.
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You make a good point, as the new bank would not have the prior relationship or understanding, and simply see you as a red flag on their radar. From that point, they basically make a judgement call based on whatever available information or their (new bank) policies.
However, as was my original point, there is typically more involved than a bank just cutting people off thinking they are a porn company. You do not hear about Vivid, C4S, CCBill or alike losing their accounts despite a little research could show their adult associations on a fairly large scale.