New Book Exposes How Banks Silence Dissenting Voices

Rainey Reitman’s latest book investigates the growing practice of banks and payment processors denying services to individuals and organizations that have not broken any laws. Her interest began in 2011 after PayPal temporarily shut down an account linked to a group aiding whistleblower Chelsea Manning, an incident that was later reversed following public outcry. The narrative catalogs a wide range of affected parties, from protestors and journalists to gun-rights advocates, adult-content producers, Muslim entrepreneurs and cannabis activists, highlighting how financial institutions can effectively silence dissent.

Reitman notes that while private companies are not bound by the First Amendment, they frequently act on direct or indirect government pressure, citing one outlet Rifle Association, Backpage and WikiLeaks as high-profile cases. She also examines systemic targeting through programs like Operation Choke Point and regulatory tools such as "know your customer" rules and sanctions. To counteract this trend, the author suggests embracing cash, digital currencies and a legal framework that would protect payment intermediaries from liability, similar to Section 230 for online platforms.