Banks and Payment Processors Censored the Company Forcing it to Put Sex Workers Out of Work
The backlash to the banks and payment processors was quick and harsh. We are not sure which bank or payment processor stepped forth to assist OnlyFans with their situation, but a representative of the company said, “The proposed Oct. 1, 2021 changes are no longer required due to banking partners’ assurances that OnlyFans can support all genres of creators.”
Some sex workers had already closed their accounts and moved to other platforms, but this is a big coup for small businesses against “bank censorship” using their power and clout to shut down businesses they disapprove of. According to several sources, Christian group Exodus Cry and the National Center on Sexual Exploitation led ” the effort led ” the effort, formerly known (rather revealingly) as Morality in Media. Those groups lobbied Mastercard to impose a new anti-porn policy which was targeted at OnlyFans.
The banks pressuring the company were BNYMellon, JPMorgan Chase, and Metro Bank.
This is a fascinating case where sex workers want safe platforms like OnlyFans to exchange their skills for money, especially during a pandemic, and increase their audience size by going online. The organizations against sexual exploitation claim that many of these workers are forced into these fields. Their exploiters are the ones profiting from their work is the claim for many of these organizations.
When lobbied by these organizations, the banks and financial platforms used their clout to shut down the businesses by refusing to process payment by fans to the sex workers, thus, ending the ability of the workers to make a living. Maybe this line of work should be legalized and processed separately like cannabis, gambling, alcohol, etc. This would remove it from the so-called free market profiteers and also ensure that exploitation is removed from the government regulated sex business.