S.401 - Fair Access to Banking Act

[BrunoMattei]

So what do we do other than live like the Amish and trade services in lieu of money?

 

[gagabobo1997]

Is it possible to make an EU petition about this like for Stop Killing Games?

Josh is an American citizen and this is an American website so while a petition to do something could be made it would go nowhere.

 

[harbringer883]

Is it possible to make an EU petition about this like for Stop Killing Games?

How will that help any of us non europoors?

 

[ToroidalBoat]

Sounds hopeless. What can potentially be done?

Hopefully Current Year can go back to being the more sane "the present" again. But "doomer" as it may sound, I doubt.

 

[Krusty Rage]

Josh is an American citizen and this is an American website so while a petition to do something could be made it would go nowhere.

My question obviously meant if it was possible, not that he needed to do it.

 

[SSj_Ness (Yiffed)]

That is disturbing. Worst thing is it seems utterly hopeless, with ineffectual, almost insultingly useless bills like that being the only pushback.

 

[harbringer883]

Deport all the Jews to Madagascar.

The solution to everything

 

[(っ◔◡◔)っ ♥ Cancer ♥]

Stopped reading where you called women who are against violent rape simulators "retarded holes" and so will every other woman, fyi. Good luck trying to mobilize the incel crowd I guess.

 

[mindlessobserver]

Sounds hopeless. What can potentially be done?

You ever see the ending of fight club?

 

[Reverend]

Is this gamergate 3?

No sir this is a Wendy's.

 

[soprianoschizoposter]

that's why you invest in TRUMP coins, the only decentralized currency for patriots, by patriots

 

[General Emílio Médici]

Debanking is the most insidious type of censorship mechanism developed to date. It is not only incredibly faggy (relying on passive-agressive denial of service and a "I can't hear you, you don't exist to me" mentality) it forces the victims to self segregate from society as they cannot participate due to their money being taken away.

 

[3MMA]

Sounds hopeless. What can potentially be done?

Common carrier laws are a good thing to work towards, as a start.

 

[Oh!]

We should convince Valve to start their own payment processor and then just use that

 

[Squawking Macaw]

The merchant classes should've never been given this much power over society.

 

[Penis]

AI TL;DR - courtesy of Magistral. Apologies if this isn't allowed:

Summary​

The post discusses the historical context of GamerGate and its failure to shut down feminist critics, leading to increased influence of progressive ideologies. The core issue identified is payment networks' control over online platforms like Steam, which censor content based on pressure from activist groups and payment processors. The author argues that the Fair Access to Banking Act (S. 401) is ineffective because it fails to address the real problem: payment processors and card networks.


The post explains how payment processing works in the US, involving multiple entities (banks, processors, gateways, underwriting banks, and card networks), with complex terms that can lead to sudden deplatforming without explanation. The proposed law is criticized for its lack of enforceability and discretionary enforcement by the OCC.


The author proposes that a meaningful law should:

1. Provide federal civil relief with statutory damages, including punitive damages and attorney fees.
2. Repeal PATRIOT Act requirements that turn financial services into unappealable law enforcement.

Additionally, the post critiques US payment networks for their high fees (e.g., 2.9% + $0.30 per transaction), which exploit businesses and fund progressive initiatives like DEI programs and child genital mutilation surgeries. The DOJ's lawsuit against Visa for monopolistic practices is mentioned as further evidence of the problem.


The author concludes by expressing frustration that people focus on trivial issues rather than the systemic exploitation by payment networks, which need to be broken and held accountable.


TL;DR:
The post argues that the Fair Access to Banking Act (S. 401) is insufficient because it fails to address the real issue: payment processors and networks controlling access to financial services. The author critiques these networks for their high fees, lack of transparency, and unethical practices (e.g., funding progressive causes), while proposing stronger legal measures to hold them accountable.


Payment networks are the core problem; current laws like S. 401 are insufficient.

 

[SSj_Ness (Yiffed)]

Stopped reading where you called women who are against violent rape simulators "retarded holes" and so will every other woman, fyi. Good luck trying to mobilize the incel crowd I guess.

Only incels care about the swampy power structure of demonic financial cartels who effectively rule the world and spread evils like child castration more than some indie slop porn games. You're a good person for noticing this.

 

[notorietus]

when are we getting elon musk on here?

This is dumb because Elon Musk has a thread on this site, and only does decision if it would financially benefit him. There is multiple examples of this in his thread.

One example, would be "X Money" (another one of his products) that Null himself already follows on Twitter. Visa (demons) already is sponsoring X Money, which in theory would be "X Wallet" and P2P payments. In a way, this could be done but once again, the problem IS Payment Processors, and stuff like X Money when it uses Visa, Mastercard etc would be it's Achilles heel if they wanted to complain about certain users.

Right now, protests are being done primarily by "gamers" for those censoring pornography sites (such as OnlyFans), and the Steam ban, etc. This change.org petition is aimed to protest the payment processors, but it would most likely lead to nowhere.

 

[XL xQgg?QcQCaTYDMjqoDnYpG]

Null is right to identify the payment networks (not Section 230) as the keystone of control. But the root problem isn't a lack of accountability, it's that these networks are not functioning as market actors. They're state-integrated permissioning layers, embedded in the legal monopoly of fiat currency and protected by licensing, compliance mandates, and regulatory interlocks.

Mastercard and Visa are not "private companies" in any meaningful market sense. Their authority over who may transact exists only because every legal alternative has been outlawed or preemptively throttled. They operate downstream of the Federal Reserve, within a banking system gated by the state, and are shielded from competition by statutory and administrative design.

So when the proposed fix is to create a legal entitlement to access (enforced by OCC complaint or civil action) the effect is not to dismantle the cartel, it's to codify it. You can't correct the abuse of state-backed infrastructure by reinforcing the premise that such infrastructure should exist.

This isn't a market gone wrong, it's a planned economy doing exactly what it was designed to do: outsource censorship, suppress exit, and preserve control (while keeping the surface optics of private enterprise)
The real fix isn't more oversight, more enforcement, or more procedural rights, it's to abolish the state's role in currency, banking, and transaction routing entirely, and to allow actual alternatives to arise on open terms.

 

[Dawdler]

In Europe, they have the IBAN system.

Yes, but it is tacked onto Swift and backed by *stercard and other stuff if you want to have your own card and bank no.
Transactions can be free for certain things but that depends on the country. Inside EU there aren't fees.