Tag: banks

Gun Shops And Customers Claim Credit Card Firms “Restrict” Firearm Purchases

Gun rights advocates warned that a new change to the credit card industry to add a firearm and ammunition-specific Merchant Category Code (MCC) for gun stores wasn’t about tracking guns necessarily, but could lead to the denial of lawful firearms purchases by law-abiding citizens.

In September, Visa, Mastercard, and American Express all said they would adopt the MCC code to categorize sales at gun shops; months later, several social media posts of alleged gun stores and customers claim they experienced card issues.   

Twitter account “Battlecock Tactical” tweeted, “Federal Firearms License [gun shop] in a Facebook group shared this. Looks like the doomers accurately called how that new firearms merchant code would go down.” 

Battlecock Tactical’s images show what appears to be a retail POS system at an FFL that reads $913.70 transaction was “declined.” The error code on the merchant’s computer read: 

“Transaction declined: Charge declined RESTRICTED CARD Customer bank does not allow this card to be used at this type of merchant.” 

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Trudeau says he feels “serene and confident” over decision to freeze protesters’ bank accounts

In his testimony before the Public Order Emergency Commission (POEC), Prime Minister Justin Trudeau tried to justify his use of the Emergencies Act to stop the Freedom Convoy protest by blacklisting and freezing the bank accounts of protesters supporting civil liberties.

Trudeau admitted that the protests were not violent but still insisted that he is “confident” with his decision to use a law that has never been used before to stop the protests.

“There was no loss of life. There was no serious violence. There hasn’t been a recurrence of these kinds of illegal occupations since then. I am absolutely serene and confident that I made the right choice in agreeing with the invocation,” Trudeau told the commission that is investigating whether the government’s decision to use the Emergencies Act was justifiable.

Trudeau said that the “responsibility of a prime minister is to make the tough calls and keep people safe.”

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Jeffrey Epstein victims sue JPMorgan Chase and Deutsche Bank for ‘facilitating his sex-trafficking operation and ignoring red flags’: Women claim large cash sums were withdrawn to pay them for sex

Victims of Jeffrey Epstein are suing Deutsche Bank and JPMorgan Chase, alleging they ‘played an integral role’ in the pedophile financier’s campaign of sexual abuse.

In two lawsuits filed in New York on Thursday, the women say the banks facilitated Epstein’s sex trafficking operation because large sums of money were withdrawn to pay his victims.

They are also accused of ignoring ‘red flags’ and putting profit before the law. 

Bradley Edwards, a lawyer in the case against Deutsche Bank, told the Wall Street Journal: ‘The time has come for the real enablers to be held responsible, especially his wealthy friends and the financial institutions that played an integral role.

‘These victims were wronged, by many, not just Epstein. He did not act alone.’

Epstein took his own life in a New York prison in 2019 while awaiting trial for sex trafficking.

Both lawsuits are class action cases that name the plaintiffs as ‘Jane Doe 1, individually and on behalf of all others similarly situated’.

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UK “Nudge Unit” recommends banks track carbon footprint of transactions, reward “sustainable behaviors”

An influential United Kingdom (UK) based social purpose organization that was blamed for the UK government’s use of “grossly unethical tactics to scare public into Covid compliance” is recommending that banks use the “wealth of data that they hold” to provide “carbon feedback” on transactions and introduce social credit-style rewards and incentives to encourage “sustainable behaviours.”

The measures are being pushed by the Behavioural Insights Team (also known as “The Nudge Unit”) which specializes in using behavioral insights to “nudge” people into changing their behavior.

In a recent blog post, The Nudge Unit revealed that it had partnered with “carbon footprint management” company Cogo to “explore how banks should go about nudging their customers to go green.”

Cogo already has partnerships with several banks, including the UK’s NatWest bank, which uses Cogo’s services to provide a personalized, real-time carbon footprint tracker in its mobile app. Cogo’s carbon footprint tracker displays carbon footprint saving and recommendation messages next to transactions. The messages include “you could save up to 138kg [of carbon] by taking public transport” and “you could save up to 7kg of carbon by changing your diet.”

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PayPal Sneakily Adds $2,500 Draconian Fines For ‘Misinformation’ Back To It’s Terms Of Service

A little over 2 weeks ago, PayPal made an announcement that the company planned on “fining” users $2,500 for spreading so-called “misinformation.”

Eventually the company wiped the whole initiative due to furious users and plummeting stock. But as people pointed out on Wednesday, it appears PayPal is quietly bringing those $2,500 fines back.

It’s right here in black and white…I plan on calling tomorrow to cancel my account. pic.twitter.com/RnN7ctLQop

— Chris Humphries (@ChrisHump40) October 27, 2022

The internet erupted with backlash over this news yet again, with even more users threatening to ditch the platform forever over this resurfaced announcement. 

Initially, PayPal shamelessly walked their comments back, saying they were made “in error.”

“An [Accepted Use Policy] notice recently went out in error that included incorrect information,” said a company spokesperson. “PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy. We’re sorry for the confusion this has caused.”

The whole situation quickly morphed into a PR nightmare for the company, as users were clear about their plans to move their money away from PayPal in place of an alternative payment processor.

“Sorry PayPal, but it was no accident those words were even typed in the first place,” wrote one user on Twitter.

Now that PayPal is seemingly adding the draconian clause to their terms of service again. Users are calling the company’s “in error” claims out for what they truly were: blatant lies.

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Mastercard just outlined its digital ID push

At the Authenticate 2022 event, Mastercard SVP of Digital Identity Sarah Clark detailed the company’s digital ID plans. Clark detailed Mastercard’s plans for a digital ID network at a presentation on “Use of FIDO in a Reusable Digital Identity Network.”

The network is aimed at individuals who already have a government-issued ID. Mastercard plans to create a network through which digital IDs can be reused online, for in-person interactions, through calls and other channels.

The company claims that the network is fully operational in two markets and active in seven markets across the globe. The company has launched a digital identity in Brazil and helped the Australian government develop the TDIF, a framework for the development of digital identity services.

According to Clark, there are opportunities for digital ID systems because of the poor user experiences most people have with traditional ID systems. She also claimed that digital ID could help combat cyber fraud.

The system, called “ID,” does not require a password; it uses biometrics. The user owns their own digital ID, making it decentralized, store it on their smartphone, and only show it to a party that has requested it.

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Australia’s Commonwealth Bank begins tracking transactions, links it to carbon footprint

Australia’s Commonwealth Bank (CBA) has added a new feature to its online banking software that tells customers their carbon footprint based on monthly spending. The move follows a partnership between the bank and CoGo, a company that provides carbon footprint management solutions.

According to the bank, the national average of carbon emitted is 1,280 kilograms, while a sustainable figure is 200. The bank has provided the option to “pay a fee” to offset the carbon footprint.

CBA said it does not share data with CoGo. It added that eventually the data will be broken down into each individual transaction.

The bank calculates a person’s carbon footprint based on the transactions using their credit or debit cards.

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Chase Bank Cancels Nonprofit’s Bank Account: Religious Freedom Is Under Attack in Corporate America’

A former United States ambassador for religious freedom says Chase Bank abruptly closed an account associated with his nonpartisan, faith-based nonprofit organization with little explanation.

The National Committee for Religious Freedom (NCRF), a 501(c)4 political action nonprofit, opened an account with Chase in April. 

According to Sam Brownback, the group’s chairman and the former U.S. ambassador-at-large for international religious freedom under the Trump administration, the bank decided to “end their relationship” with NCRF and close the account after only three weeks.

“We were surprised at being canceled by Chase,” Brownback wrote in an op-ed published in the Washington Examiner. When our executive director called to see if this was an error, he was informed that ‘a note in the file read that Chase employees were not permitted to provide any further clarifying information to the customer.’”

NCRF Executive Director Justin Murff reached out for more information but was told the decision was made at the “corporate” level and was “final and nonrevocable”.

“Why the cancellation? Why the secrecy and lack of transparency? Why was Chase hiding its reasons and intentions for closing the account of a client that seeks to serve the public good and defend religious freedom for every person in America,” Brownback questioned. 

The bank later stated the group had not provided requested documentation in a 60-day timeframe, but Brownback notes the account was only open for 20 days before it was closed. 

“To this day, the NCRF does not have a clear reason as to why our account was closed after only three weeks,” he said. “We certainly hadn’t made any transactions in that short amount of time that would have triggered any regulatory red flags.”

Murff was later told by a Chase employee identified as “Chi-Chi” that it might be possible to continue the business relationship if NCRF could provide more information about the nonprofit’s activities. 
 
Specifically, they wanted a donor list, a list of political candidates NCRF intended to support, and a full explanation of the criteria by which they would endorse and support those candidates. 

“It was entirely inappropriate to ask for this type of information. Does Chase ask every customer what politicians they support and why before deciding whether or not to accept them as a customer?” Brownback asked in his op-ed.

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