Report: Big Banking vs. Sex Biz

Report: Big Banking vs. Sex Biz

LOS ANGELES — A new report is casting light on a problem that is well known to adult entertainment professionals: a growing number of banks want nothing to do with them or their money — but this anti-porn stance is taking a broader toll, because it is also anti-women.

“For nearly a decade, PayPal, JPMorgan Chase, Visa/MasterCard, and now Square, have systematically denied or closed accounts of small businesses, artists and independent contractors whose business happens to be about sex,” notes writer Violet Blue in a new article for Engadget.com. “These payment processing authorities have also coerced websites to cease featuring sexual content under threat of service withdrawal, all while blaming ambiguous rules or pressure from one another.”

The report spotlights Chase bank’s widely publicized termination of accounts held by adult performers, and the widespread refusal of service exercised by other financial institutions.

“Indisputably, the Internet ushered in an empowered landscape for sex workers and porn stars alike to finally have their own voice and be heard. Interestingly, with this came an eager market for women-run and -directed porn businesses, as well as erotica by and for women,” Blue explains. “Sadly, in this new sex-information ecosystem, denial of access to economic opportunity has also blossomed.”

Blue points to PayPal and its pattern of “denying service, seizing accounts and freezing funds for anyone discovered to be associated with sexual content online — even educational or artistic content,” a tragic situation for many adult performers, producers and promoters, who have not been treated on an equal level with other businesspeople and companies — and a policy that has had a disproportionately large impact on women, including artists, entertainers and escorts, writers, and more.

The report amply illustrates how payment providers such as PayPal, Square, and WePay, discriminate against anyone and anything with even the remotest connection to adult entertainment — and when called out for it, hide behind vague excuses and rely upon blaming acquiring banks and card associations such as MasterCard and Visa — with WePay reportedly stating that “Both acquiring banks and the card brands generally restrict the processing of payments for any activity that is deemed unlawful, high-risk or ‘brand damaging’ to the networks,” when questioned about its cancellation of an account that was used as a medical fundraiser for a former performer.

The problem of adult’s access to banking services could be easier to solve if the banks and other service providers would take responsibility for their actions, rather than blaming each other for their decisions, with Blue citing PayPal’s blaming of MasterCard/Visa for its “non-adult” policy, while card associations claim “they have nothing to do with the actions of PayPal, or anyone in the business of denying financial services to erotic material.”

Recent events such as a ruling that a local sheriff violated the First Amendment rights of Backpage.com when he pressured MasterCard and Visa to stop processing the site’s classified ad sales, and new FDIC guidance of what constitutes “high risk” transactions and more, are also detailed in the report.

“Ultimately the fact of the matter is, while keeping corporate mitts off free speech is everyone’s business, sex is becoming a woman’s business,” Blue concludes. “All women deserve business opportunities facilitated by Chase, PayPal and Square — not just the women who live in what these companies consider the ‘right neighborhoods’ on the Internet.”

To read the full report, click here.

Related:  

Copyright © 2025 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

2025 XBIZ Amsterdam Website Launches With Call for Speakers

XBIZ is pleased to announce that the website for its annual European conference, XBIZ Amsterdam, is now live.

NC Governor Vetoes Bill Targeting Adult Industry, Override Possible

North Carolina Governor Josh Stein today vetoed a bill imposing new regulations that adult industry observers have warned could push adult websites and platforms to ban most adult creators and content.

25,000 Sign Petition to Legalize Pornography in Ukraine

An OnlyFans model’s petition to decriminalize pornography in Ukraine has amassed the 25,000 signatures required for official consideration by President Volodymyr Zelensky.

WannaCollab Joins Pineapple Support as Supporter-Level Sponsor

WannaCollab has joined the ranks of over 70 adult businesses and organizations committing funds and resources to Pineapple Support.

FSC Unpacks SCOTUS Age Verification Ruling in Webinar

The Free Speech Coalition conducted a public webinar Tuesday to help adult industry stakeholders understand the Supreme Court’s recent decision in FSC v. Paxton, and its potential implications.

UK Lawmaker Calls for Appointment of 'Porn Minister'

Baroness Gabrielle Bertin, the Conservative member of Parliament who recently convened a new anti-pornography task force, is calling for the appointment of a “minister for porn,” according to British news outlet The Guardian.

FSC Toasts Jeffrey Douglas for 30 Years of Service

n the very same evening when the adult industry was hit hard by the Supreme Court ruling supporting Texas’ controversial age verification law, HB 1181, members of the Free Speech Coalition board, staff and supporters gathered to celebrate Jeffrey Douglas’ 30 years as board chair — a fitting reflection of his reputation as an eternal optimist.

TTS Opens UK Testing Location

Talent Testing Service (TTS) has opened a new U.K. location in Ware, Hertfordshire.

FSC: Age-Verification Laws Go Into Effect in South Dakota, Georgia, Wyoming on July 1

The Free Speech Coalition (FSC) has published a statement regarding new age verification laws set to go into effect tomorrow in South Dakota, Georgia, and Wyoming.

FSC Responds to Supreme Court Decision on Texas AV Law

The Free Speech Coalition (FSC) has released a statement responding to last week's Supreme Court decision on FSC v. Paxton, the Texas age verification law.

Show More