Federal Trade Commission Chairman Andrew Ferguson sent letters on Thursday to the CEOs of PayPal, Stripe, Visa and Mastercard, warning them against debanking practices — including denying customers access to services based on lawful business activities perceived as high-risk.
“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,” the letters read. “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.’” {read}