Review: When Banks Do the Government's Bidding
Financial institutions have become a tool for suppressing speech.
Rainey Reitman learned this in 2011, when PayPal froze the account of a group she was working with to help free whistleblower Chelsea Manning. After negative publicity, PayPal reinstated the account—but Reitman’s interest in what she calls “financial censorship” was piqued.
In Transaction Denied: Big Finance’s Power to Punish Speech, Reitman details myriad ways that financial censorship, also called debanking, has been used “to pressure dissenting and marginalized voices.” She tells the stories of protesters, journalists, gun rights advocates, adult content creators, Muslim entrepreneurs, cannabis activists, erotica writers, religious freedom fighters, naked yogis, and others who are affected when banks, payment processors, and credit card companies limit or close their accounts despite the fact that they haven’t broken any laws.
A longtime civil liberties advocate, Reitman knows censorship is a term usually reserved for government action. Private companies aren’t required to respect the First Amendment. But financial censorship is frequently driven by government pressure, or “censorship by proxy.” Sometimes this pressure is direct and targeted, as in cases involving the National Rifle Association, Backpage, and WikiLeaks. Sometimes it’s more circuitous. It might involve federal guidance to banks about whole industries to scrutinize carefully, as in Operation Choke Point, which targeted porn makers, payday lenders, gun shops, and other businesses. It might involve ill-conceived regulations and security measures, such as “know your customer” laws and targeted economic sanctions that banks are expected to help enforce.
The book offers an array of ideas for mitigating financial censorship, including cash, cryptocurrency, and a sort of Section 230 for banks that would “make it clear that payment intermediaries, banks, and credit card companies are not liable for the activities of the people and institutions who use their services.”
The post Review: When Banks Do the Government’s Bidding appeared first on Reason.com.
Source: https://reason.com/2026/07/31/transaction-denied/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,826,328,326 |
| Stories: | 8,679,555 |
Whistler Blowers, Insiders
