The Rule of Law is dead. Welcome to the Rule of Whim
The US Government is now deciding what businesses deserve to have bank accounts and which ones do not, all without the benefits of legal authority or passing laws.
It seems that the Department of Justice has been pressuring banks not to do business with shady customers such as payday loan franchises, tobacco sales outlets, and porn stars. Also on the list are firearms dealers, fireworks stores, and coin dealers.
If you are involved in businesses that the government does not like, they are going to shut you down.
The problem is that none of these business are illegal.
No laws have been passed. No judges have ruled.
This sort of rule-by-whim is wildly unconstitutional and a blatant assault on the values that have made this country great.
Pornography and porn stars may be unsavory to the DOJ, but these people are not doing anything illegal. Selling guns and ammo might be shady to our overseers, but it is a constitutionally protected activity. The opinions of the Department of Justice are not relevant here, only the actual laws matter.
Making it difficult or impossible to to do business has the same effect as a ban -- these activities are eliminated or driven underground.
This is not only an affront to our liberty, this is going to trash the economy as well. There is a direct and proven correlation between the rule of law and economic activity. Businesses cannot thrive where they don't know the rules and their money can be seized at any moment.
When history looks back at the collapse of America they will see this -- the destruction of the rule of law -- as one of the primary causes.