FSC Report Outlines Financial Discrimination for Adult Workers

CHATSWORTH, Calif.—A new report released by adult industry trade group Free Speech Coalition submits that an "overwhelming majority" of adult industry workers have lost a bank account or financial tool due to their source of income. The report, “Financial Discrimination and the Adult Industry,” documents the broad scope of the discrimination faced by performers, content creators, professionals and business executives in the adult industry. According to the report:  • 62 percent have lost or been denied a bank account due to their work in the adult industry. More than 40 percent have lost an account or financial tool in the past year alone.• Nearly half of adult businesses (48 percent) rated financial discrimination as their top challenge to revenue.• 1 in 3 performers have either been outed as adult workers to their financial institution by those who wish to harm them—or have faced extortive threats to do so. “The rampant financial discrimination against the adult industry is devastating to our businesses and workers,” says Mike Stabile, director of public affairs at Free Speech Coalition. “From predatory fees to unwarranted fund seizures, financial institutions are exploiting the labor of those working in the adult industry. This report shines a light on a shameful practice.”  Those in the adult industry regularly report having accounts closed—with funds sometimes seized—despite their legal source of income. From mainstream banks and credit card networks to financial tools like PayPal and Venmo, financial services discrimination creates constant instability for workers and businesses, forcing them to pay extortionate fees or rely on third-parties to manage their income. The report builds on the pioneering scholarship and studies conducted by groups such as Hacking/Hustling and CLEAR, and researchers like Dr. Val Webber and Bianca Beebe. The report follows a study conducted by Free Speech Coalition and Sex Work CEO, an educational platform for sex workers, between December 2022 and March 2023. Over 400 members of the adult industry took part in the survey. The full release can be found here.