No it’s not. Their husband/father had a hard time getting banking services long before he became president. Recall that he was already down to the pretty shady DeutcheBank before his first election. Melania is going to be tainted by her husband’s bad banking history.
Baron was a minor at that point in time, so he was unable to contract for banking services on his own. He would require his parents to contract for the services on his behalf. And they’ve screwed over too many banks already.
There’s nothing political about a company refusing to do business with a customer they believe presents too much risk to the company.
So most people here seem to think it’s okay to debank someone for political reasons. Could someone explain that to me? For example, if TPTB decided Wendy was over the line (politically speaking) then it would be okay for her to be debanked?
Several people have explained it to you, you just don’t agree with it. Banks shouldn’t be forced to do business with risky customers. It could be legal risk, moral risk, financial risk, whatever. Those risky customers complain that it’s political targeting, even when it’s clearly not.
Bob, you seem like a fairly conservative guy. I bet you have a lot of conservative buddies. How many of y’all have been debanked because of your politics?
I don’t think that’s correct. Most people would want to ‘debank’ (whatever that is) or at least deny loan services to someone who has little to no independent financial resources apart from his/her spouse and whose spouse has numerous bankruptcies and whose spouse has a history of repayment failures and whose spouse has also been denied US banking services because he/she presents a credit risk.
Banks are businesses and, like most businesses, are keen to avoid losses.
What I’m concerned about is banks being used to punish political activities. If someone has broken the law then arrest them and go to trial.
Back in 2022 there was a protest by Canadian truckers. The Trudeau government had their bank accounts frozen. What if Wendy were participating in a protest in Washington, DC and had her banking accounts and credit cards frozen?
Please re-read the replies over again. A second time if necessary. They are not being unbanked due to political reasons, but rather credit risk. It really is pretty simple to grasp.
Now… let’s talk about the media being attacked for political reasons. And the justice system. And …
Any bets that Disney is not pressured to accept a political commissar to oversee ABC “news”?
Will the regime go full “Xi” and block foreign news outlets from streaming services? Windsor is too far over the horizon for me to receive CBC news with my indoor antenna.
Others have replied about “credit risk”, and that’s it in a nutshell. I would never loan the Trumps money because I would have no reasonable expectation that I would be paid back. That’s why, long before he ever ran for POTUS, he could only get loans from shady (e.g. Russian) banks.
It has nothing to do with his politics, and everything to do with him repaying what he owes with the interest he owes.
Yeah…they did that, too. That’s why I call him “the Felon”, because he was convicted on 34 counts of various business frauds. And you expect a bank to loan him anything?
If you or I were convicted of 34 counts of business fraud, I’m pretty sure you or I couldn’t get a loan from a bank either.
In Orwellian fashion, the issue as presented, is the opposite of fact. He wants banks to make decisions based on politics, not generally accepted standards of prudence. His nibs gets what he wants, his opponents don’t.
I’ve declared bankruptcy six times and been involved with other businesses that have failed, a lot of my funding has come from Russian oligarchs and I presided over a riot that threatened members of Congress back in January in which a half dozen people died. I have hundreds of small lawsuits against me for non-payment of bills to vendors and construction firms, and there’s a judgement saying that no one in my family can be involved in a charity in New York because we were found guilty of stealing from a cancer fund for children. Also. In the name of full disclosure, my family was found to have discriminated against minorities for years and years in renting properties, and right now a guy I consorted with frequently is under investigation for human trafficking and the rape of underage girls.
But other than that, I’m gonna be a swell customer. Trust me. A lot of low information people do, so you should too.
Revisiting this…I wonder how much of this is to legitimize the case for crypto. I’m learning that there’s a lot of people who want to hide their money. While it may be true that some are debanked, there are many more who refuse to use traditional, regulated banks. Now they have a reason to justify their decision.
A large part of GOP/Trump ascendance is a direct result of crypto partisans (desperately trying to find more ways to protect their quite novel and peculiarly useful only under certain weird circumstances investment strategies) investing by giving big time to Trump and Co.
Seems to me that they are at the front of the line to be paid off.