Wells Fargo deletes adult business and sex worker accounts

[INever]

The usual...


Wells Fargo may have had no problem scamming clients into accounts without consent (until they got caught and were fined $185 million), but when it comes to sex workers, the bank is suddenly pious.


As Rolling Stone reports, sex workers across the country are reporting that their Wells Fargo accounts have been terminated with no explanation - aside from referencing "ongoing reviews of its account relationships in connection with the Bank’s responsibilities to manage risks," effective immediately.

In the letters, which are dated August 25 and copies of which were provided to Rolling Stone, Wells Fargo offers zero explanation for the decision to terminate the relationship with these customers. The letter says that the bank “performs ongoing reviews of its account relationships in connection with the Bank’s responsibilities to manage risks in its banking operations,” and that the recipient’s accounts will be closed “as a result of this review.” Wells Fargo did not immediately respond to a request for comment. -Rolling Stone

30-year customer Alana Evans, president of the Adult Performance Artists' Guild (APAG) says that she's had no prior issues with the bank. In a Sept. 2 video posted to Twitter, she said: "I don’t bounce checks, I’ve never done anything bad with my bank account, I don’t have fraud alerts or do chargebacks," adding "A bank that I’ve done business with for 30 years decided that I’m not worthy of a relationship with them."

"How am I supposed to pay my bills? How am I supposed to get paid?" she continued.

The owners of Las Vegas-based porn production company, YummyGirl Studios, were also terminated as clients by the bank. Spike Irons and Sofie Marie received a letter dated Aug. 25, which said they had until Oct. 13 to move their money - shortly after cashing a check from Hustler for Marie's modeling. The couple primarily used the account to pay out independent contractors, including actors and production staffers.


Sofie Marie (YouTube screenshot)
They have applied to two other banks and been rejected, and have no idea how they'll pay their staff according to the report.

"We’re a tax-paying business that has been operating consistently since 2016," said Irons. "Tell me how we are high-risk. Wouldn’t they have dumped us years ago?"

Another adult content creator, Leia Way, was also canceled by Wells Fargo - despite telling Rolling Stone that she's been a member in good standing for six years, and had been using the account to process wire transfer payments from an affiliate marketing program linked to a cam site.

"In this line of work, the feeling of being discriminated never really goes away," she said. "With that feeling, I am always expecting the other shoe to drop."

She's been forced to find another bank as well.

"To have a business terminate your relationship when you’ve done nothing wrong or illegal, it sucks," she added.

Even a former adult performer, 'Raylene,' had her Wells Fargo account terminated despite being out of the industry for a decade. The only activity related to the adult industry are residual payments from cam site Streammate.

"It’s kind of messed up," she said. "If I feel unsafe in a financial institution, what’s next? Did they check my background? Why would one or two deposits a year flag my account? I would feel better if someone would give me a straight answer."

The fact that she has been out of the industry for so long, she says, makes her even more disquieted about Wells Fargo’s decision. “You feel powerless over the external forces, over corporate and religious America, trying to exclude certain groups from living their lives in a free way,” she says. -Rolling Stone

According to the report, this isn't the first time banks have punished people in the adult industry for seemingly no reason. In 2014, JPMorgan Chase shuttered a slew of adult performers' accounts without explanation - including Teagan Presley and Keiran Lee.

What gives?

https://www.zerohedge.com/personal-f...nts-over-risks

[baddog]

I really have to wonder what people are putting down as their income source that they can do a crackdown on sex workers. What are they saying that they're hookers?

[RazorSharpe]

Originally Posted by baddog

I really have to wonder what people are putting down as their income source that they can do a crackdown on sex workers. What are they saying that they're hookers?

Payments coming into their accounts from Hustler and Streamate. Yeah, no idea how the banks figured it out.

[plsureking]

Originally Posted by RazorSharpe

Payments coming into their accounts from Hustler and Streamate. Yeah, no idea how the banks figured it out.

yea welcome to Paypal 15-20 years ago. accounts banned based on relationships.

"How am I supposed to pay my bills? How am I supposed to get paid?" she continued.

try Capital One 360 account if you have a US addy. they are awesome. low fees - no international fees - and nice apps. i pull money from the ATM in Thailand every week. the only fees are the local bank and their conversion rate is up-to-date. my WF account robs me at the ATM.

https://capital.one/



#

[TheLegacy]

I was really hoping that people were getting smarter in setting up a business or even invoicing. We all know banks don't like having adult clients because of image not the money.

[nikki99]

sophie dee tweeted she got her wells fargo aaccount deleted a year ago..

[jscott]

Tradfi is so fucked up, dirty, con artists. Thankfully we have Bitcoin now. ;)

[plsureking]

Originally Posted by TheLegacy

I was really hoping that people were getting smarter in setting up a business or even invoicing. We all know banks don't like having adult clients because of image not the money.

it doesn't matter much what we call our businesses. its the names we pay to and receive from. i've had clients with pretty obvious porno trade names.

so the only way your point is valid is if you only do business with people and companies that have pseudonyms.

#

[Retiree]

Banks are fine with drugs, weapons, murders, human trafficking, even fine with financing Hitler during WW2...but if anyone shows a nipple, thats beyond their moral limits.

[plsureking]

Originally Posted by Retiree

Banks are fine with drugs, weapons, murders, human trafficking, even fine with financing Hitler during WW2...but if anyone shows a nipple, thats beyond their moral limits.

you ever been in a bank branch? bunch of old fucking ladies!

#

[Retiree]

Originally Posted by plsureking

you ever been in a bank branch? bunch of old fucking ladies!

#

Yeah, but they don't really make the decisions...

[AmeliaG]

Banks typically are more concerned about the regulatory environment than they are about whether their tellers are an anti-porn brand of religious.

Obama's Operation Choke Point was the main reason there was bonus financial discrimination the last time this was news. Would not really be surprising if the Biden administration brought it back. Remember that a key aspect of Choke Point was that, in an attempt to combat money laundering for terrorists, banks could not tell victims of this discrimination that Choke Point was the reason.

For those with short memories https://en.m.wikipedia.org/wiki/Operation_Choke_Point

[nikki99]

Originally Posted by jscott

Thankfully we have Bitcoin now. ;)

Hallelujah

[NALEM]

Anyone that was personally effected by WF closure of their account, is invited to contact me directly at: alex AT nalem DOT com.


I'll be asking a few general questions and ask for a copy of the notice they received. Then I will forward it to attorneys with class action experience in California and see if there is any interest.

[plsureking]

Originally Posted by AmeliaG

Banks typically are more concerned about the regulatory environment than they are about whether their tellers are an anti-porn brand of religious.

Obama's Operation Choke Point was the main reason there was bonus financial discrimination the last time this was news. Would not really be surprising if the Biden administration brought it back. Remember that a key aspect of Choke Point was that, in an attempt to combat money laundering for terrorists, banks could not tell victims of this discrimination that Choke Point was the reason.

For those with short memories https://en.m.wikipedia.org/wiki/Operation_Choke_Point

scary stuff. porn is only terrorism for the penis

#

[faxxaff]

When I opened a WF account the friend who introduced me told the bank manager I was in adult. The guy looked up and said: "That's a really good business." They haven't closed me down.

[SBJ]

I'm glad I left Wells decades ago but even when they don't support sex work they still fucked me over all the time with dumb fees and signed me up for things I didn't want.

I never joined hardcore affiliate programs because of some of the company names. I remember getting a check that in the memo they put Mr. Skin so instead of cashing it at the bank I used a check cashing place to be safe.

[InfoGuy]

Karma is a bitch. In light of the current bank fallout, I wonder if any banks have changed their attitude about doing business with legal adult businesses and individuals.

[Grapesoda]

Originally Posted by INever

The usual...


Wells Fargo may have had no problem scamming clients into accounts without consent (until they got caught and were fined $185 million), but when it comes to sex workers, the bank is suddenly pious.


As Rolling Stone reports, sex workers across the country are reporting that their Wells Fargo accounts have been terminated with no explanation - aside from referencing "ongoing reviews of its account relationships in connection with the Bank’s responsibilities to manage risks," effective immediately.

In the letters, which are dated August 25 and copies of which were provided to Rolling Stone, Wells Fargo offers zero explanation for the decision to terminate the relationship with these customers. The letter says that the bank “performs ongoing reviews of its account relationships in connection with the Bank’s responsibilities to manage risks in its banking operations,” and that the recipient’s accounts will be closed “as a result of this review.” Wells Fargo did not immediately respond to a request for comment. -Rolling Stone

30-year customer Alana Evans, president of the Adult Performance Artists' Guild (APAG) says that she's had no prior issues with the bank. In a Sept. 2 video posted to Twitter, she said: "I don’t bounce checks, I’ve never done anything bad with my bank account, I don’t have fraud alerts or do chargebacks," adding "A bank that I’ve done business with for 30 years decided that I’m not worthy of a relationship with them."

"How am I supposed to pay my bills? How am I supposed to get paid?" she continued.

The owners of Las Vegas-based porn production company, YummyGirl Studios, were also terminated as clients by the bank. Spike Irons and Sofie Marie received a letter dated Aug. 25, which said they had until Oct. 13 to move their money - shortly after cashing a check from Hustler for Marie's modeling. The couple primarily used the account to pay out independent contractors, including actors and production staffers.


Sofie Marie (YouTube screenshot)
They have applied to two other banks and been rejected, and have no idea how they'll pay their staff according to the report.

"We’re a tax-paying business that has been operating consistently since 2016," said Irons. "Tell me how we are high-risk. Wouldn’t they have dumped us years ago?"

Another adult content creator, Leia Way, was also canceled by Wells Fargo - despite telling Rolling Stone that she's been a member in good standing for six years, and had been using the account to process wire transfer payments from an affiliate marketing program linked to a cam site.

"In this line of work, the feeling of being discriminated never really goes away," she said. "With that feeling, I am always expecting the other shoe to drop."

She's been forced to find another bank as well.

"To have a business terminate your relationship when you’ve done nothing wrong or illegal, it sucks," she added.

Even a former adult performer, 'Raylene,' had her Wells Fargo account terminated despite being out of the industry for a decade. The only activity related to the adult industry are residual payments from cam site Streammate.

"It’s kind of messed up," she said. "If I feel unsafe in a financial institution, what’s next? Did they check my background? Why would one or two deposits a year flag my account? I would feel better if someone would give me a straight answer."

The fact that she has been out of the industry for so long, she says, makes her even more disquieted about Wells Fargo’s decision. “You feel powerless over the external forces, over corporate and religious America, trying to exclude certain groups from living their lives in a free way,” she says. -Rolling Stone

According to the report, this isn't the first time banks have punished people in the adult industry for seemingly no reason. In 2014, JPMorgan Chase shuttered a slew of adult performers' accounts without explanation - including Teagan Presley and Keiran Lee.

What gives?

https://www.zerohedge.com/personal-f...nts-over-risks

chase did that to me. so I went to wells fargo...

[adultinnovation]

Ya'll in the wrong business
everyone hates you and you struggle to make $ selling stuff that's 100% free everywhere

[notinmybackyard]

JUST FUCKING USE CRYPTO

Anyone who can not see the writing on the wall is a dumb ass ! If enough of us start migrating towards crypto processors then the consumer will have no choice but to start using it. Crypto is the smart thing to do unless you enjoy sucking off banks and government!

[nikki99]

sophie dee has an account there

[Grapesoda]

Originally Posted by nikki99

sophie dee has an account there

I did like Sophie when I met her... nice girl...

[nikki99]

Originally Posted by Grapesoda

I did like Sophie when I me t her... nice girl...

yes me too

[CurrentlySober]

Things have really changed. I can remember in 1999 arriving at Oakwood Apartments on Ventura - They wanted a money order for the 3K to cover our 3 month stay and didn't take cash.

We were sent round to Wells Fargo on Topanga - They happily did the money order for us, and of course we got chatting - Why are us Brits wanting the money order etc? To pay Oakwood - What you doing in the States? - Shes doing porn. Full time? Nah, we just stay for 3 months, then go back home as per visa requirements - Come over again in a month or so - Repeat the process...

Oh, nice he says - You need a bank account for over here then? I can set one up for you if you like? But we dont live here I say - We are just visiting... Dont worry he says - We can do it now if you like?

Let us have a think I said and we left. Reason we said no, was we already had one with BOA, but were told that we weren't supposed to have one, and not to get involved with other banks incase it bit us on the ass...

But they guy was going to set one up for us, no trouble! Like I say, things have changed so much...

.

[Colmike9]

I cash my Chaturbate checks at a store, they don't care..

Also in the past I've used a credit union, way better than a bank. I went in once with thousands in cash just in my cargo pockets, they got out the money counters and didn't ask any questions, just smiled a little since they knew where it came from lol.

[Grapesoda]

Originally Posted by nikki99

yes me too

I used to know the owner of shemaleyum.. Great guy... never met you that I'm aware of..

[pxi776]

banks? come on man bitcoin is the new bank