Then I found a WaPo article saying that OCP was a scheme by DOJ to monitor and constrain fraudulent businesses like payday loans and prepaid cards.
Before your comment, I had no inkling that any of these enforcement actions might have been orginating with DOJ at all. I figured, Chase just doesn't want to service the porn industry. But it looks like that's not actually the case!
My priors indicate that the Democratic DOJ is not actually launching a shadow jihad against porn (of all things) by intervening in the bank system. That's just not a Dem issue. On the other hand, consumer financial fraud is a top-tier issue for the DOJ under any administration, liberal or conservative. Occam's razor suggests the WaPo is probably right-er than some op-ed by a banking lobbyist.
Why are EFF and Reason and the largest bank lobby campaigning against OCP?
Weird! Thanks for pointing this out. I flagged the story originally, but have now unflagged it.