| > There is a massive difference between "unethical business" and "illegal business" Can you explain the massive difference? For example, easy access to guns is legal in a handful of countries and illegal in most countries. Where it's legal to easily obtain guns but also illegal to buy alcohol on a Sunday, what does that imply in terms of ethics? > As banks provide critical infrastructure, There is no physical limitation - like a local electricity generator - that requires this "infrastructure" to be dominated by a few huge companies. > the simple fact is that the bank doesn't know enough to make a meaningful distinction. It is simply impossible for a bank to know for a fact what a payment is for. That's wrong. The bank reasonably knows what I'm buying from Porn Hub or the local butcher. Even if they don't know exactly what I'm buying, they do know how the local butcher generates the bulk of its profits. What you're suggesting is that it be illegal to start a vegan credit card - only works at businesses where they don't harm animals. What we need instead is more choice, not less choice. Break up the near monopoly and reintroduce competition and you fix the actual problem - which is that a handful of payment processors can collude against a business or industry. |