Federal Trade Commission Chairman Andrew N. Ferguson sent letters on Mar. 26 to the chief executive officers of PayPal, Stripe, Visa, and Mastercard, reminding them of their responsibilities under the FTC Act regarding customer access to financial services.
The letters address concerns about reports that some financial service providers have denied customers access based on their political or religious views. This issue is important because it affects whether individuals can participate fully in commerce and public life if they are denied basic financial services due to their beliefs.
“Full participation in commerce and public life necessarily requires that law-abiding individuals can access, and freely participate in, our financial system,” Ferguson wrote in the letter. He continued: “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.”
Ferguson referenced President Trump’s August 7, 2025 Executive Order on debanking: “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 FTC chairman warned that any act by these companies to deplatform customers or deny them access without proper cause may violate the FTC Act and could result in an investigation or enforcement action.
In recent years, the FTC has taken enforcement actions against payment platforms for unfair practices such as misleading merchants about fees and contract terms or facilitating fraud through card networks. All current warning letters are available at ftc.gov/warning-letters.
The Federal Trade Commission states its mission is promoting competition while protecting consumers through education and enforcement efforts. The agency encourages consumers to learn more about related topics online at ReportFraud.ftc.gov.
