The media has (naturally) focused on pornography. But take a close look at that list. Ammunition and firearm sales? Government grants? (You would think the relevant government agencies would be on top of that, but apparently not.) Pharmaceutical sales? Money transfer networks? (You mean like PayPal, Western Union, and, perhaps, FedWire and the SWIFT system?) Tobacco sales? And (my personal favorite) Racist materials. In other words, a bank can reject your application for a checking account for just about anything they want. Personally, I have several prescriptions that keep me relatively sane, happy, and alive. I would hate to think that my healthcare provider would not be able to sell me pharmaceuticals because their bank would not let them. Continue Reading →