ANALYSIS: OCC Debanking Report May Pave Way to Porn Payments

The Office of the Comptroller of the Currency released Dec. 10 its preliminary report on its investigation into the practice of “debanking,” a practice much-reviled by many of the Trump Administration’s supporters. The OCC’s position on debanking may mark an upgrade in payments accessibility for the adult entertainment businesses, giving that industry an avenue to banking and payments that it has long been denied.

August’s Presidential Executive Order 14,331 describes debanking as an act by a financial service provider to restrict or limit its business with a current or potential customer based on that customer’s political views or lawful business. ...