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Visa, Mastercard, PayPal, Stripe warned of debanking consequences (www.bankingdive.com)

submitted 2 days ago by themachinestops@lemmy.dbzer0.com to c/technology@lemmy.world

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The CEOs of Visa, Mastercard, PayPal Holdings and Stripe received letters Thursday from Federal Trade Commission Chair Andrew Ferguson, who demanded they not discriminate against customers based on political or religious grounds.

The FTC threatened enforcement action if customers are denied services for those reasons.

Any act to “deplatform customers or deny them access to financial products or services” may violate the Federal Trade Commission Act and “could lead to an FTC investigation and potential enforcement action,” the agency said in a Thursday press release. The FTC didn’t cite any specific infractions by the companies.

The commission is typically made up of five members, but has just two at the moment. President Donald Trump last fired two of the Democrats who sat on the commission.

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[-] BarneyPiccolo@lemmy.today 1 points 2 hours ago* (last edited 2 hours ago)

Nobody is being "debanked" except Trump, and it's because his accounts were tied to criminal activity, not politics.

Stop committing crime, and you can put the money in a bank.

Meanwhile, MAGA is talking about making it illegal for undocumented people to have bank accounts. So who is actually denying banking privileges based on politics?

[-] melsaskca@lemmy.ca 1 points 4 hours ago

Credit card companies are just more middle-men in a whole sea of them. trump would rather you borrow from his "bankers". Easy-credit but the vig will kill you.

[-] kent_eh@lemmy.ca 37 points 22 hours ago

I really hope some non-US controlled credit card issuers and processors start to exist soon.

The entire US financial system seems like such a risk to participate in these days.

[-] BlackLaZoR@lemmy.world 1 points 5 hours ago

Not globally. Right now and for foreseeable future only crypto supports world wide. There are initiatives for EU wide payment processing but it won't work outside

[-] yabbadabaddon@lemmy.zip 11 points 11 hours ago

I know it is not a payment processor but I think this needs more attention to what it got. The biggest smart card manufacturer was French. If they died (the company still exists but is a shadow of what it was), you'd have to thanks the NSA for it.

The English Wikipedia is lacking but you'll find more details here : https://fr.wikipedia.org/wiki/Gemplus

The USA is fighting dirty to keep its position overall and we are not responding at all.

[-] Amir@lemmy.ml 5 points 9 hours ago

It's not for credit cards, but Wero is coming soon to Europe!

[-] Slashme@lemmy.world 8 points 9 hours ago

Not "coming soon" - it's here. I made my first Wero payment this weekend.

[-] Amir@lemmy.ml 1 points 1 hour ago

Oh shit nice! I'm Dutch so for me nothing changed, didn't know it was live

[-] SomethingBurger@jlai.lu 3 points 21 hours ago

Carte Bleue should expand beyond France.

[-] arararagi@ani.social 35 points 23 hours ago

Can I finally buy my porn games without some third party fucking over the developers?

[-] BlackLaZoR@lemmy.world 1 points 5 hours ago

If stores like Itch.io deployed crypto payments few years ago and built solid user base on it, we wouldn't be having this conversation.

[-] prole@lemmy.blahaj.zone 1 points 5 hours ago

Lol no

[-] jasoman@lemmy.world 31 points 23 hours ago

No they ok with that de-platforming

[-] justastranger@sh.itjust.works 2 points 7 hours ago

They want to blanket ban porn after all. That's why the announcement only mentions being debanked for being a conservative and specifically calls out legal transactions.

[-] vane@lemmy.world 9 points 22 hours ago

Only if you register church of porn games where porn games would be worshiped.

[-] Gathorall@lemmy.world 1 points 8 hours ago* (last edited 8 hours ago)

Organizing a religion that emphasizes freedom and tries to incorporate all our likes or dislikes into it is one test of religious freedom I've always wanted to make.

After all if you can globally mutilate children and harass every single other group in existence for religious purposes surely we can be allowed total media freedom, subsidies for our cultural high quality food and preferred parking for our subsidized luxury cars for our starter sacred privileges in society?

[-] justastranger@sh.itjust.works 7 points 7 hours ago

The Satanic Temple is close enough.

THERE ARE SEVEN FUNDAMENTAL TENETS

I One should strive to act with compassion and empathy toward all creatures in accordance with reason.

II The struggle for justice is an ongoing and necessary pursuit that should prevail over laws and institutions.

III One’s body is inviolable, subject to one’s own will alone.

IV The freedoms of others should be respected, including the freedom to offend. To willfully and unjustly encroach upon the freedoms of another is to forgo one's own.

V Beliefs should conform to one's best scientific understanding of the world. One should take care never to distort scientific facts to fit one's beliefs.

VI People are fallible. If one makes a mistake, one should do one's best to rectify it and resolve any harm that might have been caused.

VII Every tenet is a guiding principle designed to inspire nobility in action and thought. The spirit of compassion, wisdom, and justice should always prevail over the written or spoken word

[-] semperverus@lemmy.world 3 points 11 hours ago

You may be on to something

[-] teyrnon@sh.itjust.works 19 points 21 hours ago

Every accusation is a confession, tjere are seemingly no exceptions.

[-] Sam_Bass@lemmy.world 25 points 1 day ago

Ah but its okay to disenfranchise those whose politics dont fit the federal narrative innit

[-] hanrahan@slrpnk.net 72 points 1 day ago

didn't they debank the ICC ? and Francesca Albenese for her political views ?

[-] teyrnon@sh.itjust.works 12 points 21 hours ago

Yes, they are projecting.

[-] Modern_medicine_isnt@lemmy.world 101 points 1 day ago

So I guess blocking payments to porn sites or whatever they were doing before is supposed to stop. Right? Right?

[-] ZILtoid1991@lemmy.world 10 points 1 day ago

The right is mostly aligning with that, unless you're talking about those young alt-righters, who are following a suggestion found on a pro-lolicon forum religiously.

[-] someguy3@lemmy.world 210 points 2 days ago* (last edited 2 days ago)

This is interesting.

Trump sued JPMorgan Chase and its CEO, Jamie Dimon, in January for $5 billion over what he alleged was the bank’s improper closure of his accounts in 2021 for political reasons. The bank is fighting the claims. The Trump Organization, led by the president’s sons, also sued Capital One last year over similar debanking allegations, and a federal judge last week dismissed that lawsuit, but gave the plaintiffs time to refile.

Following that link:

Trump sued JPMorgan and Dimon last month, seeking at least $5 billion in damages. He claims the alleged debanking came after Trump supporters stormed the U.S. Capitol on Jan. 6, 2021, shortly before the end of the president’s first term.

So that's what this is about.

[-] JustEnoughDucks@feddit.nl 1 points 1 hour ago* (last edited 1 hour ago)

Wait wait wait, but trump (and magats) said everyone at the US 2020 insurrection that the only people there were Fed agent provocateurs and paid Antifa™™ actors.

Well and then Trump pardoned them but that was just forgotten about and definitely unrelated.

[-] pulsewidth@lemmy.world 177 points 2 days ago

Trump has been debanked since the late 90s by almost all US banks, because when you bankrupt two casinos and frequently spend time with mobsters they considered loans to you "high risk" for some reason.

He's been getting loans via Europe (mostly Deutschbank.. which is also Putin's bank of choice), and Russia, for 30 years.

That is, until he won the lottery by convincing the stupidest people alive to vote him into the highest seat of power.

So now it's payback time against all the banks he thinks wronged him.

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[-] teyrnon@sh.itjust.works 1 points 21 hours ago

Nailed it, thanks.

[-] rozodru@piefed.world 138 points 2 days ago

yeah this isn't suspicious at all.

[-] JasonDJ@lemmy.zip 91 points 2 days ago

And certainly wouldn't be selectively enforced anyway. This is 100% "rules for thee not for me" shit.

Like if they get debanked for "religious" or "political" reasons (esp. when they are the ones politicizing literally everything), it's a crime.

Things that they consider political but sensible people consider "human rights", tho? They sleep.

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[-] just_another_person@lemmy.world 179 points 2 days ago* (last edited 2 days ago)

🤦...here we go again

Somebody's about to do something fucking horrific again.

[-] WolfmanEightySix@piefed.social 3 points 1 day ago

You know who will suffer the harshest consequences though?

[-] null@lemmy.org 84 points 1 day ago

Process the fucking payments, payment processors.

[-] BarbecueCowboy@lemmy.dbzer0.com 92 points 2 days ago

This seems like a good thing at first and that makes me extra wary.

[-] db0@lemmy.dbzer0.com 82 points 2 days ago

Anarchist/Environmentalists get debanked: I sleep.

Epstein-club child-rapist billionaires get the slightest inconvenience: Real Shit.

[-] favoredponcho@lemmy.zip 53 points 2 days ago

That is for conservatives only though. The judges on the ICC who have been debanked for ruling against Netanyahu can pound sand.

[-] LuxSpark@lemmy.cafe 47 points 2 days ago

Has this actually happened, or just playing the victim again?

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this post was submitted on 29 Mar 2026

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