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> I don't understand who appointed the banks became the keepers of puritanical propriety.

Congress, for one. There's a history of bills that are meant to target trafficking scooping up consensual practices as well (see also the Mann Act, SESTA/FOSTA). I'm not sure how influential the threat of something like this was here, but it can't help:

https://www.huffpost.com/entry/human-trafficking-banking-bil...



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