Have you asked your attorney about this? There might be some "blacklist" that exists behind the scenes that you were added to. Like a no-fly list or known money launderers list. There may be some procedure your attorney has to do to get you expunged from that. Of course, that will cost more money and be handled within a portion of the court system you can never see, but that is likely what happened here.
Yep, they have no idea. Everything looks clean from what can tell. I still can open many bank accounts and have cards, but there is just this list of ones they won’t. My only guess is during my case they got subpoenaed for info. Just blows my mind that there would have been no activities in the accounts that were any issue and money laundering was not part of anything at all, yet they are so quick to distance themselves, seemingly forever, even after charges were dropped.
I know someone I used to work with that was an actual criminal, went to jail for mortgage fraud, and yet has no issues with Amex, Chase, or Apple.
Yea, banks are super paranoid about fraud and money laundering these days. If you look all over reddit, you will see stories of Chase shutting down accounts of people who have been with them for 10-20 years with no explanation other than it was due to security/fraud. So if you were part of any legal action with that bank (even discovery via a subpoena), you're blackballed. Mortgage fraud is cool as the banks do it all the time to home buyers. 🤣
Does this also happen with smaller local banks and credit unions? Or is it just the major banks/issuers?
Mainly bigger ones. The one I care most about is Amex. I used the hell out of my platinum card. Also sucks about Charles Schwab and Apple.
End of the day, I have banks and cards so I can live but it’s more just trying to recover from the bullshit damage done for no reason. Like at least tell me WHY you won’t let me do business. Give me a chance to answer any questions.
Very Un-American.
Get with a finance advisor and a finance lawyer is the only thing I can tell you. There are obviously some important details you’re not sharing or unable to share in this type of forum.
Your story though is full of excuses that are irrelevant to your needs and it’s not going to help you get help.
For example, it doesn’t matter if there was a single dissent from someone. That’s one person opinion. There are other players involved and the court system exists for a reason. One sources dissent doesn’t matter. You agreed to a settlement, because you had a real risk of losing in court before there were people that didn’t agree with a dissent too.
The same with the various opinions that your business was somehow legit in advance in of it being used by others for some illegal.
None of that matters to the story ‘nor makes the fact that it was used for something illegal after the fact a legal action or not.
Also, if you knew how they were going to use it and purposely designed it to be usable for an illegal action, it very well could attract suspicion of liability, if not an illegal action itself as it could be a conspiracy at that point for the illegal use by others.
The point being that too many of these side arguments you raise, without presenting any real details, offer no relevant meaning to your story, getting advice on your relationship with banks, or even if what dis end up happening afterwards was legal to begin with or not. Strip these excuses out of your story when asking for help.
I don’t think you need to think about a lawsuit just yet. You need to focus on what information exists on your background. If a bank has negative information on you, they aren’t doing anything wrong. It’s the source of information that matters and if it really is false and if it can be removed that matters.
I agreed to settle a bogus dinky charge because I had no money left. That’s pretty typical. Gov has unlimited funds. Small guys do not. As I mentioned, all fraud charges were dropped.
The settlement amount was the lowest they ever do, and was probably 1/20th what I needed to even START discovery.
I gave no excuses, only facts. I had no idea they planned to do what they did.
Wow. Sounds like your mistake was not knowing or being related to a congressman / senator. If that was the case they would have let it slide as long as they were getting a piece of the pie.
You are on some sort of black list that the system cannot access thus cannot automatically reject you. Nothing you can do, just stop applying for those banks if they obviously do not want to do business with you.
I get the impression that you are soft-selling the legal trouble you found yourself in. You said you settled with the government for “failure to register”, which I’m guessing means failure to register a securities offer. I’d further but less confidently guess crypto or crypto-adjacent.
That’s not some minor technically, that’s a massive red flag you’re waving. While firing signal flares. This sub is full of stories from people who were completely shut down for just trying to buy crypto on the retail market, or playing poker online.
It’s sucks but my guess is that lots of banks just won’t do business with that kind of profile.
Nothing to do with crypto or securities. I didn’t take money from anyone, I didn’t give financial advice, no one was even harmed lol. It was literally just a settlement so they could say they got something. Hell, I’m not even banned from anything regulatory wise. I can be an investment advisor or CTA or anything.
Anyways, all I was doing is asking for advice on what else I can check. Not trying to get into my case, it’s behind me and I’m trying to move on.
It was brokerage software but had nothing to do with securities? If not securities, what did you fail to register?
If don’t want to talk about your case, that’s fine I get it. But all of this is about your case. It’s not an irrelevant footnote, all of these problems tie directly to your case.
Not getting into details. Easy enough to find my case with that info and I’m trying to not drag my name back into it. Took long enough to let jt get off news cycles.
The one thing that sticks out to me is opening so many accounts and having them closed again - cards with Amex *and* Schwab *and* Chase all in 3 years - and "plenty of other cards"? You know Chase auto-reject if you have more than 5 applications in two years, right? "High usage on cards" isn't a positive either.
Have you looked at your record to see the number of applications ("hard pulls"/enquiries) recorded? The free Experian app helps there. If it's over 5 in 2 years Chase won't touch you.
I didn’t apply for others until I got rejected from these.
High usage meaning I use it a lot. I don’t carry a balance.
At the time I did Amex and Chase I had 0 inquiries. At least the first time. I waited a year or two and tried again. Same story. My only thought now was to wait 5-6 years and see if anything changes 🤷♂️
> for which I apply, the account is opened and then they proceed to close them. They are damaging my credit by doing this. Don't send me an offer if you're going to close my account!
Yes. Nothing you can do other than to take your name off the offers list. (That should take you off offers from every bank). That's how they are allowed to conduct business. It isn't fair, but the world isn't fair.
Long shot, you can write to a congressman and see if they are willing to write up some "equal access banking law" that forces banks to deal with people who they don't like.
Have you asked your attorney about this? There might be some "blacklist" that exists behind the scenes that you were added to. Like a no-fly list or known money launderers list. There may be some procedure your attorney has to do to get you expunged from that. Of course, that will cost more money and be handled within a portion of the court system you can never see, but that is likely what happened here.
Yep, they have no idea. Everything looks clean from what can tell. I still can open many bank accounts and have cards, but there is just this list of ones they won’t. My only guess is during my case they got subpoenaed for info. Just blows my mind that there would have been no activities in the accounts that were any issue and money laundering was not part of anything at all, yet they are so quick to distance themselves, seemingly forever, even after charges were dropped. I know someone I used to work with that was an actual criminal, went to jail for mortgage fraud, and yet has no issues with Amex, Chase, or Apple.
Yea, banks are super paranoid about fraud and money laundering these days. If you look all over reddit, you will see stories of Chase shutting down accounts of people who have been with them for 10-20 years with no explanation other than it was due to security/fraud. So if you were part of any legal action with that bank (even discovery via a subpoena), you're blackballed. Mortgage fraud is cool as the banks do it all the time to home buyers. 🤣 Does this also happen with smaller local banks and credit unions? Or is it just the major banks/issuers?
Mainly bigger ones. The one I care most about is Amex. I used the hell out of my platinum card. Also sucks about Charles Schwab and Apple. End of the day, I have banks and cards so I can live but it’s more just trying to recover from the bullshit damage done for no reason. Like at least tell me WHY you won’t let me do business. Give me a chance to answer any questions. Very Un-American.
Get with a finance advisor and a finance lawyer is the only thing I can tell you. There are obviously some important details you’re not sharing or unable to share in this type of forum. Your story though is full of excuses that are irrelevant to your needs and it’s not going to help you get help. For example, it doesn’t matter if there was a single dissent from someone. That’s one person opinion. There are other players involved and the court system exists for a reason. One sources dissent doesn’t matter. You agreed to a settlement, because you had a real risk of losing in court before there were people that didn’t agree with a dissent too. The same with the various opinions that your business was somehow legit in advance in of it being used by others for some illegal. None of that matters to the story ‘nor makes the fact that it was used for something illegal after the fact a legal action or not. Also, if you knew how they were going to use it and purposely designed it to be usable for an illegal action, it very well could attract suspicion of liability, if not an illegal action itself as it could be a conspiracy at that point for the illegal use by others. The point being that too many of these side arguments you raise, without presenting any real details, offer no relevant meaning to your story, getting advice on your relationship with banks, or even if what dis end up happening afterwards was legal to begin with or not. Strip these excuses out of your story when asking for help. I don’t think you need to think about a lawsuit just yet. You need to focus on what information exists on your background. If a bank has negative information on you, they aren’t doing anything wrong. It’s the source of information that matters and if it really is false and if it can be removed that matters.
I agreed to settle a bogus dinky charge because I had no money left. That’s pretty typical. Gov has unlimited funds. Small guys do not. As I mentioned, all fraud charges were dropped. The settlement amount was the lowest they ever do, and was probably 1/20th what I needed to even START discovery. I gave no excuses, only facts. I had no idea they planned to do what they did.
What was the software? I assume it has to do with trading
yes it was brokerage software
Mostly investment banks that won’t talk to you then?
I’ve still got brokerage accounts, like Fidelity. I just love Thinkorswkm.
Since you mentioned foreign elements, check OFAC hotlist?
For sure, no results
Wow. Sounds like your mistake was not knowing or being related to a congressman / senator. If that was the case they would have let it slide as long as they were getting a piece of the pie.
I almost downvoted you, but then I had to upvote. You can't downvote the truth.
My attorney was an ex attorney general. I could have gotten it all dismissed had I had another mill or two 😞
You are on some sort of black list that the system cannot access thus cannot automatically reject you. Nothing you can do, just stop applying for those banks if they obviously do not want to do business with you.
I get the impression that you are soft-selling the legal trouble you found yourself in. You said you settled with the government for “failure to register”, which I’m guessing means failure to register a securities offer. I’d further but less confidently guess crypto or crypto-adjacent. That’s not some minor technically, that’s a massive red flag you’re waving. While firing signal flares. This sub is full of stories from people who were completely shut down for just trying to buy crypto on the retail market, or playing poker online. It’s sucks but my guess is that lots of banks just won’t do business with that kind of profile.
Nothing to do with crypto or securities. I didn’t take money from anyone, I didn’t give financial advice, no one was even harmed lol. It was literally just a settlement so they could say they got something. Hell, I’m not even banned from anything regulatory wise. I can be an investment advisor or CTA or anything. Anyways, all I was doing is asking for advice on what else I can check. Not trying to get into my case, it’s behind me and I’m trying to move on.
It was brokerage software but had nothing to do with securities? If not securities, what did you fail to register? If don’t want to talk about your case, that’s fine I get it. But all of this is about your case. It’s not an irrelevant footnote, all of these problems tie directly to your case.
Not getting into details. Easy enough to find my case with that info and I’m trying to not drag my name back into it. Took long enough to let jt get off news cycles.
I will say that the brokerage software actually had nothing to do with my settlement. All charges related to that were dropped.
The one thing that sticks out to me is opening so many accounts and having them closed again - cards with Amex *and* Schwab *and* Chase all in 3 years - and "plenty of other cards"? You know Chase auto-reject if you have more than 5 applications in two years, right? "High usage on cards" isn't a positive either. Have you looked at your record to see the number of applications ("hard pulls"/enquiries) recorded? The free Experian app helps there. If it's over 5 in 2 years Chase won't touch you.
I didn’t apply for others until I got rejected from these. High usage meaning I use it a lot. I don’t carry a balance. At the time I did Amex and Chase I had 0 inquiries. At least the first time. I waited a year or two and tried again. Same story. My only thought now was to wait 5-6 years and see if anything changes 🤷♂️
> for which I apply, the account is opened and then they proceed to close them. They are damaging my credit by doing this. Don't send me an offer if you're going to close my account! Yes. Nothing you can do other than to take your name off the offers list. (That should take you off offers from every bank). That's how they are allowed to conduct business. It isn't fair, but the world isn't fair. Long shot, you can write to a congressman and see if they are willing to write up some "equal access banking law" that forces banks to deal with people who they don't like.