3 ms·

Why is a bank even looking at your content out of curiosity? Should it matter unless you're violating the law (and presumably a judge can tell them to freeze/c

by ohashi 17y ago

Why is a bank even looking at your content out of curiosity? Should it matter unless you're violating the law (and presumably a judge can tell them to freeze/cancel your accounts at that point)?

InclinedPlane 17y ago
Just speculating, could be related to the "know your customer" laws: http://en.wikipedia.org/wiki/Know_your_customer http://en.wikipedia.org/wiki/Know_your_customer
betashop 17y ago
Right? I'm told that irbid standard practice for a compliance officer to review new business acccounts shortly after they are opened. This individual clearly had dome bad judgement.
betashop 17y ago
Right? I'm told that irbid standard practice for a compliance officer to review new business acccounts shortly after they are opened. This individual clearly had some bad judgement.
- rubyrescue 17y ago
  I started opening an account with HSBC in the states last month and they were noticeably wary until they saw a web page for my company - the Patriot act was specifically mentioned - it seems that the due diligence requirements for new accounts is very high.
  - theBobMcCormick 17y ago
    That's an odd thing for them to look for. Almost any dufus with FrontPage,etc. could put up a reasonably businessy looking website. I don't expect bankers to be internet experts, but I would think they'd realize that the presence of a website isn't much of a proof of legitimacy. As an interesting counter-anecdote, I recently opened a business account with TCF bank. We definitely didn't have our website up (not sure we'd even registered a domain name at that point). TCF didn't seem to have any interest in our web site, they just wanted our federally issued EIN and a copy of our business registration with the state (in our case, Articles of Organization for an LLC.). IMHO, those seem like sensible documents for them to request. A website? Not so much.
    - rubyrescue 17y ago
      Agreed, but most bankers aren't paid to think anymore. I had those other documents in hand as well... but, show the website... whatever works. Perhaps there is a secret thrill in being a banker who may one day catch a Patriot Act violator, or even a $200 bonus?
wheels 17y ago
Perhaps they were getting a merchant account as well? When we got our merchant account they had a checklist of things they had to check out on the site to make sure we were inline with Visa / Mastercard requirements. Though, it's still mind boggling how the leap could be made from, you know, mentioning gay folks to ... I don't even know ... treating it as porn? The blog is totally tame. The only thing I can think maybe happened is that they hit the home page, and then falsely referred to it as "the blog". The wording on the home page is sparse and ambiguous enough that it could be misconstrued (especially if we're already talking about someone who fears teh gays) as being a hook-up site. That said, I hope Jason and crew ride this one for all it's worth; it's like the perfect storm for generating buzz pre-launch. :-)

by ohashi 17y ago

Why is a bank even looking at your content out of curiosity? Should it matter unless you're violating the law (and presumably a judge can tell them to freeze/cancel your accounts at that point)?

InclinedPlane 17y ago

Just speculating, could be related to the "know your customer" laws: http://en.wikipedia.org/wiki/Know_your_customer http://en.wikipedia.org/wiki/Know_your_customer

betashop 17y ago

Right? I'm told that irbid standard practice for a compliance officer to review new business acccounts shortly after they are opened. This individual clearly had dome bad judgement.

betashop 17y ago

Right? I'm told that irbid standard practice for a compliance officer to review new business acccounts shortly after they are opened. This individual clearly had some bad judgement.

rubyrescue 17y ago
I started opening an account with HSBC in the states last month and they were noticeably wary until they saw a web page for my company - the Patriot act was specifically mentioned - it seems that the due diligence requirements for new accounts is very high.
- theBobMcCormick 17y ago
  That's an odd thing for them to look for. Almost any dufus with FrontPage,etc. could put up a reasonably businessy looking website. I don't expect bankers to be internet experts, but I would think they'd realize that the presence of a website isn't much of a proof of legitimacy. As an interesting counter-anecdote, I recently opened a business account with TCF bank. We definitely didn't have our website up (not sure we'd even registered a domain name at that point). TCF didn't seem to have any interest in our web site, they just wanted our federally issued EIN and a copy of our business registration with the state (in our case, Articles of Organization for an LLC.). IMHO, those seem like sensible documents for them to request. A website? Not so much.
  - rubyrescue 17y ago
    Agreed, but most bankers aren't paid to think anymore. I had those other documents in hand as well... but, show the website... whatever works. Perhaps there is a secret thrill in being a banker who may one day catch a Patriot Act violator, or even a $200 bonus?

wheels 17y ago

Perhaps they were getting a merchant account as well? When we got our merchant account they had a checklist of things they had to check out on the site to make sure we were inline with Visa / Mastercard requirements. Though, it's still mind boggling how the leap could be made from, you know, mentioning gay folks to ... I don't even know ... treating it as porn? The blog is totally tame. The only thing I can think maybe happened is that they hit the home page, and then falsely referred to it as "the blog". The wording on the home page is sparse and ambiguous enough that it could be misconstrued (especially if we're already talking about someone who fears teh gays) as being a hook-up site. That said, I hope Jason and crew ride this one for all it's worth; it's like the perfect storm for generating buzz pre-launch. :-)