The adult industry trade group, Free Speech Coalition (FSC) has shared a new report – “Financial Discrimination and the Adult Industry” – which found that an overwhelming majority of adult industry workers have lost a bank account or financial tool due to their source of income.
The report follows a study, conducted by FSC 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. According to the report:
- Discrimination is widespread. 62% have lost or been denied a bank account due to their work in the adult industry. More than 40% have lost an account or financial tool in the past year alone.
- It’s a major drag on business. Nearly half of adult businesses (48%) rated financial discrimination as their top challenge to revenue.
- It makes performers vulnerable. 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.
“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.
To learn more about Free Speech Coalition and support their work, go to their website at freespeechcoaltion.com and follow them on their Twitter @FSCArmy.
