Financial Censorship Controversy: Financial Services Leading Social Change?

Abstract

This case study explores numerous frameworks to describe and assess issues related to the financial censorship controversy from a stakeholder perspective. Recent mass shootings, controversial use of social media, and other high-profile events have made financial censorship in the U.S. a relevant topic. Some major financial companies have taken steps to ban or curtail legal transactions that may indirectly be associated with criminal acts, hateful speech, immoral or extreme opinions while others refrained. The entire financial industry and its stakeholders are deeply concerned about the legal, ethical, and social change aspects of the controversy and key challenges, limitations, and consequences.