I still want to see Congress pass a law requiring any internet company that accepts money or fees from you that bans you, must give the exact reason, evidence, and where on your contract / ToS you violated. Frankly, at a certain size (millions of customers), these companies are utilities.
Banks are regulated to death but I see that on the whole as a good thing. These payment processors need the same burden. They’ve shown that they won’t play fairly without intervention and market forces aren’t fixing the problem.
Current Anti Money Laundering regulations actually require the exact opposite! If a financial company's customer is under review for fraud or money laundering, it is illegal for that company to let their user know.
