FTC Warns Payment Giants Over Debanking, PayPal Faces April 20 Class Action Deadline
FTC Chairman warned PayPal, Stripe, Visa and Mastercard that refusing services on political or religious grounds could trigger investigations and enforcement. Faruqi & Faruqi reminded investors that April 20, 2026 is the deadline to seek lead-plaintiff status in PayPal’s securities class action covering February 25, 2025 to February 2, 2026.
1. FTC Warning on Debanking Practices
In a March 27 letter, FTC Chairman outlined that PayPal, Stripe, Visa and Mastercard must not refuse services on political or religious grounds or face investigations and enforcement actions under President Trump’s debanking executive order. The agency emphasized that denying access to legitimate businesses undermines American values and warned of potential probes.
2. Securities Class Action Deadline Approaches
Faruqi & Faruqi, LLP announced that investors who acquired PayPal securities between February 25, 2025 and February 2, 2026 have until April 20, 2026 to file for lead-plaintiff status in a federal securities class action. The firm encouraged affected shareholders to contact them to discuss legal options and potential claims.