Overview
- FTC Chair Andrew Ferguson sent warning letters Thursday to the four payment giants over denying services based on political or religious views, citing President Trump’s August 2025 executive order.
- PayPal and Stripe drew extra scrutiny, with Ferguson pointing to Stripe’s 2021 decision to cut off Trump’s campaign payments after January 6 as an example that raises compliance questions.
- The commission set a deadline for the firms to show how they will keep account decisions viewpoint‑neutral, with Stripe saying Friday it does not limit access based on politics.
- The FTC has not announced formal investigations into Visa, Mastercard, PayPal, or Stripe at this stage.
- The warnings fit into a wider push that includes Trump’s $5 billion lawsuit against JPMorgan and an OCC finding of early evidence that big banks declined business with politically sensitive industries.