"Rob would later be abruptly dropped from the credit card processor he had been with since 1996." http://www.deathmetal.org/news/usbm-cornerstone-elegy-records-closes-its-doors/ …pic.twitter.com/f5QeECSLt1
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"Rob would later be abruptly dropped from the credit card processor he had been with since 1996." http://www.deathmetal.org/news/usbm-cornerstone-elegy-records-closes-its-doors/ …pic.twitter.com/f5QeECSLt1
It appears the same plague that has swept through the political sphere happened to Metal music labels too.pic.twitter.com/H9JeRJkFIg
"There was no reason given to me from PayPal other than an email stating that I could not use their service anymore. I did try to contact them, phone calls and emails and in the end to no avail. "pic.twitter.com/06fR2XYtuQ
According to an earlier article, the attack on Metal music started in August 2017. Right in the aftermath of Charlottesville... http://www.deathmetal.org/news/metalsucks-whines-about-hells-headbangers/ …pic.twitter.com/owAohWcCpS
"MetalSucks’ owners, Ben Umanov and Matt Goldberg, also own the Blast Beat advertising network..."pic.twitter.com/ojgAqJ8u7G
"PayPal No-Platforms Moribund Records For Satanic Beliefs" http://www.deathmetal.org/news/paypal-no-platforms-moribund-records-for-satanic-beliefs/ …pic.twitter.com/QlFKtGJeqe
November 2018: "Newly Unsealed Documents Show Top FDIC Officials Running Operation Choke Point" https://www.forbes.com/sites/norbertmichel/2018/11/05/newly-unsealed-documents-show-top-fdic-officials-running-operation-choke-point/#4ec651de1191 …pic.twitter.com/VPESc1Zono
This part connects Operation Choke Point back to politics. As I went over in the Mastercard threads, there's an interpretation of "political risk" that's at play.pic.twitter.com/bYJKKYFyJN
"In one example of blatant intimidation, a bank terminated its relationship with a legal business after threats from the FDIC. "pic.twitter.com/a8ReVJNtKk
The Forbes article lists important points mentioned in a LARGE PDF file of Court Documents. https://www.cfsaa.com/files/files/Statement%20of%20Undisputed%20Material%20Facts%20Operation%20Choke%20Point.pdf …pic.twitter.com/MgxDv8TZhM
ORIGINS: "to encourage or, in some cases, coerce the banks they supervise to terminate their relationships with payday lenders, seeking to effectively cut the payday lending industry off from access to the modern financial system."pic.twitter.com/8uUyxRzyGs
"III. Defendants Develop and Expand the Concept of “Reputation Risk.”" (Page 7)pic.twitter.com/n9azZlguUZ
OK PAGE 8 IS SUPER IMPORTANT AS THIS IS THE UNDERLYING DYNAMIC INVOLVED IN DEPLATFORMING PEOPLE TODAY. "Defendants have expanded the meaning of reputation risk to encompass not only the risks posed by a bank’s own operations but also those posed by a bank’s customers"pic.twitter.com/z1xa4Tcn2x
"In June 2008, FDIC issued a guidance letter stating that “any negative publicity involving the third party, whether or not the publicity is related to the institution’s use of the third party, could result in reputation risk.” PUBLICITY MEANING ***THE MEDIA.***pic.twitter.com/teoEWy8aEv
^^REMEMBER WHAT JACQUELINE HART FROM PATREON SAID: "Payment processing depends on our ability to use the global payment network, and they have rules for what they will process." https://twitter.com/nickmon1112/status/1077431186706837504 … I THINK THIS IS WHAT SHE MEANT.
YES YES IT IS "In the summer of 2011, the FDIC published a Supervisory Insights article entitled “Managing Risks in Third Party Payment Processor Relationships.”" "the list included “PayDay Loans” along with activities such as [...] and “Racist Materials.”pic.twitter.com/7Ljg2Qs0OP
What seems to have happened is Banks/Credit card companies saw "racist materials" listed by the FDIC and took it to the EXTREME.pic.twitter.com/RoXEfQ57VT
Page 18: "[r]egulators also can raise prudential requirements for loan provisioning and for minimum capital ratios that banks must maintain as a consequence about concerns regarding ‘reputation risk,’ ” which can “entail[ ] severe costs for banks.”pic.twitter.com/HR9iNvWeyv
Page 23: “I am glad to see some of the large banks taking a stand to assist in driving these payday lending entities out of banking. Now we will just need all the others to follow suit.”pic.twitter.com/KtLq9wfiYV
".... since your institution will be linked to an organization providing payday services, your reputation could suffer.”pic.twitter.com/tm7sbxDujA
“we will be pursuing a strategy to ‘encourage’ the bank to sever the relationship . . .”pic.twitter.com/G51x2GJhom
What you should be learning from this is that there's a dynamic of government pressure on display here.pic.twitter.com/Pkr04ziST5
"Until Operation Choke Point fell under congressional scrutiny, Lowe was never criticized by anyone in the FDIC for his interactions with banks facilitating payday lending."pic.twitter.com/GgTDdcH5m5
“The official told the banker, ‘I don’t like this product, and I don’t believe it has any place in our financial system. Your decision to move forward will result in an immediate unplanned audit of your entire bank.’ ”pic.twitter.com/l4NSp6CHyO
THE LANGUAGE USED in Operation Choke Point situations is CONSISTENT WITH that of the terminations of accounts involved in the current sweep of political deplatformingpic.twitter.com/RLRKOOTOGU
(page 41) "Many other banks terminated their relationships with payday lenders abruptly, with no explanation at all."pic.twitter.com/8HWPur4yLT
Anyway I finished reading the court documents. This is an instruction manual for a solution to the deplatforming problem. https://www.cfsaa.com/files/files/Statement%20of%20Undisputed%20Material%20Facts%20Operation%20Choke%20Point.pdf …
"Evidence is now clear: Operation Choke Point hurt lawful businesses"https://www.americanbanker.com/opinion/evidence-is-now-clear-operation-choke-point-hurt-lawful-businesses …
"DOJ stops 'Operation Choke Point,' but only Congress can end it for good"https://thehill.com/blogs/pundits-blog/civil-rights/348379-doj-stops-operation-choke-point-for-now-but-congress-must-end …
"The House Should Be Commended For Effort To Stop Operation Choke Point"https://www.forbes.com/sites/norbertmichel/2016/02/08/the-house-should-be-commended-for-effort-to-stop-operation-choke-point/#359163c9521d …
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