I don't think they're that reluctant, honestly.
But it goes beyond credit card companies too. It applies to the whole banking system.
It will soon be the case where the majority of Americans live in states where recreational cannabis is legal (it was ~1 in 3 last year but NY, NJ and others will push it over). Yet you can't use a credit card to buy cannabis pretty much anywhere AFAIK.
Worse, dispensaries have to operate on an all-cash basis because they simply can't get bank accounts.
Granted, the legality of cannabis is a grey area since states allow it but the Federal government still maintains it as illegal.
I personally don't like the financial system being gatekept for legal activity this way.
Whether or not they could is a legal question. It seems though they're happy to appease politicians and "values" voters by virtue signaling on these issues, however.
As for sex work, in particular, this one is tricky. While I fully support body autonomy and in an ideal world, sex-for-money and the like should be legal, it's not that simple in reality. Why? Because the sex industry is deeply tied to human trafficking. I have no idea how to solve that problem.
But it goes beyond credit card companies too. It applies to the whole banking system.
It will soon be the case where the majority of Americans live in states where recreational cannabis is legal (it was ~1 in 3 last year but NY, NJ and others will push it over). Yet you can't use a credit card to buy cannabis pretty much anywhere AFAIK.
Worse, dispensaries have to operate on an all-cash basis because they simply can't get bank accounts.
Granted, the legality of cannabis is a grey area since states allow it but the Federal government still maintains it as illegal.
I personally don't like the financial system being gatekept for legal activity this way.
Whether or not they could is a legal question. It seems though they're happy to appease politicians and "values" voters by virtue signaling on these issues, however.
As for sex work, in particular, this one is tricky. While I fully support body autonomy and in an ideal world, sex-for-money and the like should be legal, it's not that simple in reality. Why? Because the sex industry is deeply tied to human trafficking. I have no idea how to solve that problem.