Deny banking services or lose access to their account because of their values

#1
Drewbydoo

Drewbydoo

Drew
Joined
Apr 30, 2022
Messages
4,208
Likes
7,971
#1
If passed, it will not allow big corporate banks to discriminate against citizens for their religious or political views. No person or entity should be denied banking services or lose access to their account because of their values.

Hopefully Tennessee will pass this bill (HB 2100) today because if not people could lose access to their bank accounts based on some type of social media score.

CHINA is already doing this.

If it doesn't pass, it would set a precedent that would ultimately allow for Artificial Intelligence to evaluate some kind of "social score" and then adjust your access to your money and/or the interest rates offered to you on future credit approval. China is already doing that.

That bill is being evaluated in Tennessee today. It's a very big deal that seems to have not gained any traction nationally, which is odd and sad to me because it would afford Tennesseans a level of protection that most of the rest of the USA doesn't have.

ETA:

Update: it passed
 
Last edited:
#5
#5
Drewbydoo said:
CHINA is already doing this.

If it doesn't pass, it would set a precedent that would ultimately allow for Artificial Intelligence to evaluate some kind of "social score" and then adjust your access to your money and/or the interest rates offered to you on future credit approval. China is already doing that.
Click to expand...
I used to believe this about China's social credit system but now after hearing a few people talk about it over the past year or so, I'm on the fence. It could be true, or it could be a scare tactic used to justify the US to take some action against China... sort of like how they demonize Tik-Tok right now.
 
  • Like
Reactions: Drewbydoo
#6
#6
85SugarVol said:
I believe citizens in the UK have been de-banked for political views.

Sounds pretty antithetical to our values imo.
Click to expand...
its happening here. a bunch of state AGs, pretty much all Republicans, sent letters to Wells Fargo after WF started ending accounts with people over suspected political differences.

Attorney General Knudsen demands answers from Wells Fargo for debanking practices - Montana Department of Justice

HELENA – Montana Attorney General Austin Knudsen led a coalition of 16 attorneys general in demanding answers from Wells Fargo Wednesday regarding the company’s debanking policies, which appear to extend the Biden administration’s woke agenda. In a letter to Wells Fargo’s Chief Executive Officer...
dojmt.gov dojmt.gov

it does draw a very interesting question between a person's rights, and the businesses rights.
 
  • Like
Reactions: tbh, norrislakevol and marcusluvsvols
#8
#8
BigOrangeMojo said:
I would think private businesses should be able to choose who they want to do business with....
Click to expand...
my biggest concern is how exactly is the "debanking" process handled. some of the things I have alluded to is that customers haven't been easily able to get access to their money in the closed accounts. and some loans/other transactions have similarly been cancelled/ended that can have some serious financial consequences.

it doesn't sound like WF was ending accounts on renewal dates or anything. just sent out of notice of closure on a certain date with no real means to challenge or find a way to make it work.
 
  • Like
Reactions: norrislakevol
#10
#10
If Wells Fargo or any other bank does not follow its terms and conditions and federal/state banking laws in closing you out or refunding your money, that is one thing and there are remedies for that.

But no, gov't should not be telling private companies who can and can't be their customers.....
 
  • Like
Reactions: tbh, dovervolz and hog88
#11
#11
BigOrangeMojo said:
If Wells Fargo or any other bank does not follow its terms and conditions and federal/state banking laws in closing you out or refunding your money, that is one thing and there are remedies for that.

But no, gov't should not be telling private companies who can and can't be their customers.....
Click to expand...

Or bailing them out.
 
  • Like
Reactions: tbh, norrislakevol, whodeycin85 and 2 others
#12
#12
I'd love to know why people are supporting the state here but not supporting the state with the gay wedding case.....
 
#15
#15
BigOrangeMojo said:
I'd love to know why people are supporting the state here but not supporting the state with the gay wedding case.....
Click to expand...
you can choose to do business with a bakery. unless you are literally 100% off the grid you can't go without a bank. I am pretty sure even the Amish/Menonites deal with banks.
 
  • Like
Reactions: tbh and whodeycin85
#18
#18
BigOrangeMojo said:
I would think private businesses should be able to choose who they want to do business with....
Click to expand...
If they are truly choosing who they do business with - have at it.

The State (not long ago) got in bed with Social Media platforms - and essentially told them who to do business with.

Is the State (again) telling private companies (Banks here) who to do business with?

If so - that is Verboten.
 
  • Like
Reactions: 0nelilreb, tbh, marcusluvsvols and 1 other person
#20
#20
I know how this is going to end up. A person with a 680 credit score is going to apply for a loan and will be turned down. They will cry ____________-ism and sue under this provision.....
 
  • Like
Reactions: whodeycin85
#21
#21
BigOrangeMojo said:
I know how this is going to end up. A person with a 680 credit score is going to apply for a loan and will be turned down. They will cry ____________-ism and sue under this provision.....
Click to expand...

It doesn't have to turn out that way.
 
New posts
You must log in or register to reply here.

VN Store



Back
Top