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A US bank is reportedly closing down the accounts of hundreds of porn stars - causing fury throughout the adult industry. Chase bank, a subsidiary of financial giant JP Morgan Chase, sent out letters to porn actors, informing them their accounts were to be shut down. The letters say: "We recently reviewed your account and determined that we will be closing it on May 11, 2014. Please accept our apologies for the inconvenience." It goes on to say: "You may close your account before the date we've provided. Your account agreement says that either of us may close your account at any time, without notice and without a reason." No reason for the account closures is given in the letter. Porn star Teagan Presley confirmed to adult industry news website Xbiz that her account was among those targeted. "I called them and they told me that because I am, I guess, public and am recognisable in the adult business, they're closing my account," she told the website. When she tried to open an account at another bank, she was turned down. It's not the first time JP Morgan Chase has got in hot water with regard to the adult industry. They were sued last year by soft porn studio MRG Entertainment, alleging the bank violated fair lending laws and its own policy by refusing to underwrite a loan for "moral reasons".
http://www.mirror.co.uk/news/world-news/porn-stars-screwed-jp-morgan-3465615#ixzz35FN5Eg7E Follow us: @DailyMirror on Twitter | DailyMirror on Facebook
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A US bank is reportedly closing down the accounts of hundreds of porn stars - causing fury throughout the adult industry. Chase bank, a subsidiary of financial giant JP Morgan Chase, sent out letters to porn actors, informing them their accounts were to be shut down. The letters say: "We recently reviewed your account and determined that we will be closing it on May 11, 2014. Please accept our apologies for the inconvenience." It goes on to say: "You may close your account before the date we've provided. Your account agreement says that either of us may close your account at any time, without notice and without a reason." No reason for the account closures is given in the letter. Porn star Teagan Presley confirmed to adult industry news website Xbiz that her account was among those targeted. "I called them and they told me that because I am, I guess, public and am recognisable in the adult business, they're closing my account," she told the website. When she tried to open an account at another bank, she was turned down. It's not the first time JP Morgan Chase has got in hot water with regard to the adult industry. They were sued last year by soft porn studio MRG Entertainment, alleging the bank violated fair lending laws and its own policy by refusing to underwrite a loan for "moral reasons". http://www.mirror.co.uk/news/world-news/porn-stars-screwed-jp-morgan-3465615#ixzz35FN5Eg7E Follow us: @DailyMirror on Twitter | DailyMirror on Facebook
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