this post was submitted on 29 Mar 2026
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Visa, Mastercard, PayPal, Stripe warned of debanking consequences (www.bankingdive.com)
submitted 4 days ago by themachinestops@lemmy.dbzer0.com to c/technology@lemmy.world
71 comments fedilink hide all child comments
 

The CEOs of Visa, Mastercard, PayPal Holdings and Stripe received letters Thursday from Federal Trade Commission Chair Andrew Ferguson, who demanded they not discriminate against customers based on political or religious grounds.

The FTC threatened enforcement action if customers are denied services for those reasons.

Any act to “deplatform customers or deny them access to financial products or services” may violate the Federal Trade Commission Act and “could lead to an FTC investigation and potential enforcement action,” the agency said in a Thursday press release. The FTC didn’t cite any specific infractions by the companies.

The commission is typically made up of five members, but has just two at the moment. President Donald Trump last fired two of the Democrats who sat on the commission.

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[–] sturmblast@lemmy.world 0 points 2 days ago (1 children)

Hardly issues at this point

[–] Slashme@lemmy.world 1 points 1 day ago (1 children)
[–] sturmblast@lemmy.world 1 points 1 day ago (1 children)

Bitcoin isn't the only crypto

[–] Slashme@lemmy.world 1 points 1 day ago (1 children)

So name a cryptocurrency that doesn't have a scalability issue, and that could handle the volumes of transactions that the global credit card payment processors do.

[–] sturmblast@lemmy.world 2 points 1 day ago

Solana would be the leader here and in lab tests can hit 100,000 TPS. VISA averages 45,000 TPS globally. Not bad for an unfinished product.