Federal Trade Commission Chairman Andrew N. Ferguson has sent letters to the CEOs of major financial platforms, including PayPal, Stripe, Visa, and Mastercard, emphasizing their responsibilities under the FTC Act.

The letters express concerns over reports of financial services denying access to customers based on their political or religious beliefs. Chairman Ferguson highlighted the importance of allowing law-abiding individuals to participate fully in commerce and public life.

He referenced President Trump’s Executive Order from August 7, 2025, which states that it is unacceptable to debank individuals for their political affiliations, religious beliefs, or lawful business activities.

The letters caution that any actions to deplatform customers or deny them access to financial services that contradict their terms of service or customer expectations may violate the FTC Act, potentially leading to investigations and enforcement actions.

The FTC has previously taken action against payment platforms for unfair practices, including misleading merchants and facilitating consumer fraud.