The Federal Trade Commission (FTC) has issued a warning to major payment companies, including Visa, Mastercard, PayPal, and Stripe, against denying services based on users' political or religious beliefs. FTC Chairman Andrew Ferguson emphasized that such actions contradict American values by hindering law-abiding individuals from conducting legitimate business operations.
This warning aligns with the Trump administration's focus on "de-banking," highlighted by lawsuits against JPMorgan Chase and Capital One Financial Corp. for alleged political discrimination. Both financial institutions have denied these claims. Stripe has stated it will not limit services based on political views.
US Regulators Warn Payment Firms Against 'De-Banking' Practices
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