If you are debanked can you not sue for defamation and slander? After all, only criminals and terrorists get debanked, and if that's happening to me that's a public statement by a public corporation.
There is also the problem of punitive action (debanking) upon suspicion of wrong-doing rather than the conviction of it, which is a violation of due process on the side of the government.
there was no way to sue because the banks were debanking anyone involved in crypto as a "politically exposed person". this was a regulation forced on the banks by the federal government. any bank not following this policy would then be caught under a million internal investigations by the feds, which is excruciatingly painful for them. as such, the banks weren't liable for following procedures, and the feds weren't "responsible" for it as they were very passive aggressive in writing and enforcing rules in such a way that didn't expose them. it wasn't said openly but it was deeply assumed with an undertone meant to circumvent the law. the politically exposed thing had been done prior with gun manufacturers and weed dispensaries so it had some kind of precedence
he described it as a puppet with no master above the strings
i completely agree that's it's 100% illegal, but there were a number of people who apparently had this same problem yet had no real legal recourse. i don't fully understand it but i assume a bunch of well off founders would have been able to figure it out. their only solution was to apparently support trump because it was so heavily tied to the left wing establishment.
There is also the problem of punitive action (debanking) upon suspicion of wrong-doing rather than the conviction of it, which is a violation of due process on the side of the government.