NORTHRIDGE, Calif.–The Free Speech Coalition (FSC), the trade association of the adult entertainment industry, is seeking to form a credit union.
“The Free Speech Coalition is serious about starting an adult industry credit union,” the organization said on its website. “Part of this is being able to show regulators that enough people would use it, so please fill out this form if you’re interested! (Yes, credit unions can issue credit cards!)”
On a web page on which it conducted an online survey to gauge interest in getting a credit union chartered, the Free Speech Coalition stated, “Did you know that nearly two out of three people who work in the adult industry have had an account shut down by a bank or payment app? Have you been a victim of Wells Fargo, Bank of America, PayPal, or any of the financial institutions that decided to close accounts by workers and businesses in the adult industry? Do you worry it could happen to you?”
The organization continued to say it has been “fighting for our industry’s right to access financial services for years – meeting with Congress, regulators, and banking industry groups to push for change. That work is important, but the de-banking of our industry has reached crisis levels and the FSC has decided to start a credit union to fill this important need.”
