The U.S. Federal Trade Commission (FTC) issued warning letters to the chief executives of Mastercard, Visa, PayPal, and Stripe regarding debanking practices. FTC Chairman Andrew N. Ferguson stated that denying services based on political or religious beliefs may constitute unfair or deceptive acts under the FTC Act.
This regulatory action follows a 2025 executive order from President Donald Trump. The order prohibits financial institutions from terminating client services for political or religious reasons.
The FTC warned that deplatforming customers in violation of company terms of service could trigger formal investigations. PayPal declined to comment on the letters. Mastercard, Visa, and Stripe did not provide an immediate response.