I think people are mostly upset about some bank telling them how they are allowed to spend their money (by restricting what is available for sale). What if those big banks decide that, say, R-rated movies are too much of a liability for them and demand retailers stop carrying them? I’m not sure what an alternative would be, but allowing a bank to decide what you can spend your money on is a bad precedent given that everyone is basically required to have a bank account these days.
I think people are mostly upset about some bank telling them how they are allowed to spend their money (by restricting what is available for sale). What if those big banks decide that, say, R-rated movies are too much of a liability for them and demand retailers stop carrying them? I’m not sure what an alternative would be, but allowing a bank to decide what you can spend your money on is a bad precedent given that everyone is basically required to have a bank account these days.