All new Registrations are manually reviewed and approved, so a short delay after registration may occur before your account becomes active.
FTC Chairman Andrew N. Ferguson Issues Warning Letters to CEOs of PayPal/Visa/MC/Stripe
Federal Trade Commission Chairman Andrew N. Ferguson sent letters today to four major financial infrastructure platforms and payment providers reminding them of their obligations to their customers under the FTC Act.
The letters issued to the CEOs of PayPal, Stripe, Visa and Mastercard raise concerns about publicly reported examples of financial services companies denying their customers access to services due to their political or religious views.
“Full participation in commerce and public life necessarily requires that law-abiding individuals can access, and freely participate in, our financial system,” Chairman Ferguson wrote.
“It is inconsistent with American values to deny law-abiding individuals the ability to run their legitimate businesses and feed their families because they attracted the ire of rogue American officials, overzealous activists, or, more worryingly, foreign governments seeking to control public discourse,” he continued. “That is why President Trump’s August 7, 2025, Executive Order on debanking makes clear that it is unacceptable to debank law-abiding citizens due to ‘political affiliations, religious beliefs, or lawful business activities.’”
The letters warn the companies that any act or practice to deplatform customers or deny them access to financial products or services, or to facilitate such conduct by other companies, that is inconsistent with their terms of service or a customer’s reasonable expectations may violate the FTC Act and could lead to an FTC investigation and potential enforcement action.
The FTC in recent years has brought numerous enforcement actions against payment infrastructure platforms and related entities for unfair or deceptive practices, including misleading merchants about fees and contract terms and facilitating fraud on consumers, including through the means of card networks.
I think this is late to post but. I think this is good enough to tell CC company's to stop them from allowing us to buy whatever the fuck we want
Comments
huh, 2 days ago. it was on twitter before
What does this mean for my composting toilet
You can buy more toilets and Visa/Mastercard can't block you from doing do
Fantastic news around the board
About time
Useless bullshit
Congress passed no law
Executive branch enforces passed laws only
Everyone will ignore and ban harder in next election.
Ban trump
Under APA, agencies could interpret passed law then make corresponding regulations. Regulatory overreach? Happened every other time.
This is intended to stop banks from debanking customers because the customer is too controversial to the liberal establishment.
So companies can't choose whom they can be in business with anymore? 😬
@JoshuaMoon , good news?
Yes, modern society has too big dependence on banks.
It has been disastrous
We need a low-end cryptocurrency that's reliable, so we may stay away from banks and their views on the world.
The "universe" doesn't care, do the work yourself.
That's basically cash
I'm tired of fees and predatory behavior, especially with the AUM most grow mindset. And creating subprime mortgage market and zombie companies.
Every business worth their salt bans customers without stating a reason and if they are forced to provide a reason they'll have their lawyers cook up some air tight general statement. Toothless statement and law.
People don’t get debanked because they’re “too controversial”, they get debanked because they’re too risky to continue to serve from a financial perspective.
Banks don’t just hate making money, they hate the risk of losing money. If you’re rich enough, banks will continue to have relationships with you until they absolutely can’t anymore. See: Epstein and Maxwell, who only got debanked once banks could no longer possibly stick their heads in the sand, and even then they were always able to find more banks willing to take their money.
For banks, it’s entirely a calculation of risk and reward. If you’re not a profitable customer then 100 percent expect to be debanked, save for some regulations around this that prevent the poorest from constantly being underbanked.
I don’t think Ferguson understands how payment processing works, because Visa/MC are certainly not the companies that are denying service, it’s the acquiring banks that are to blame when it comes to payment processing woes. Visa/MC will allow anything that is legal in the jurisdiction where the acquiring bank and issuing bank are in.
Should be clear cut really:
legal to purchase = payment processor must allow transaction
only used for legal purposes = customer allowed full use of services
So they're ran by the cartels with zero government oversight and obligation. Great idea! Totally solves that problem! Nothing to go wrong!
This is about Trump sueing the government and JP Morgan because JP Morgan didn't want to be in business with treasonous Trump.
So they now have to frame this as a MAGA issue and not fragile ego issue.