The Free Speech Coalition (FSC) is hosting a webinar on April 24 to address the impact of derisking practices on the adult industry's access to banking services, coinciding with the one-year anniversary of its "Financial Discrimination and the Adult Industry" report.

FSC Webinar to Tackle Derisking in Financial Services

CHATS WORTH, Calif.—The Free Speech Coalition (FSC), an adult industry trade group, will host a special briefing on Wednesday, April 24, focusing on the effects of derisking practices within the financial services industry. The webinar, titled "Derisking: Examining Its Impact on the Adult Industry's Access to Banking Services," is scheduled for 2 p.m. on April 24.

Panelists will discuss how derisking affects their ability to establish and operate businesses, generate income, and function in an increasingly digital economy. The event is intended for adult industry members, Congressional staff, regulators, financial services professionals, and other stakeholders.

The webinar's timing aligns with the one-year anniversary of the FSC’s report, “Financial Discrimination and the Adult Industry.” This report detailed the extent of financial discrimination experienced by adult-related businesses and workers. According to the report, more than 60 percent of adult workers have lost a bank account or financial tool due to their industry association, with 40 percent experiencing such losses in the past year alone.

Since the report's release, the FSC has engaged with over 40 Congressional offices, as well as regulators, compliance officers, and anti-trafficking organizations. The issue of financial discrimination has garnered coverage from national and international outlets, including the New York Times, Forbes, Wired, Boston Globe, The Street, Slate, and numerous other publications.

Alison Boden, Executive Director of FSC, stated that the organization has examined both the problem and potential solutions over the past year. She added that the panel will allow for engagement with a broader audience, the presentation of possible solutions, and the answering of questions, anticipating an important discussion.

Panelists and Discussion Focus

The webinar will feature a panel of experts from various sectors. Alison Boden, Executive Director of the Free Speech Coalition, is among the confirmed panelists. Allie Eve Knox, an adult performer and business owner, will also contribute to the discussion. Jessica Goedtel, a Financial Advisor at Pavilion Financial, is slated to participate. Aaron Kahler from the Anti-Human Trafficking Intelligence Initiative is another panelist. Pierre Whatley, Principal at FS Vector, will also join the panel. Mike Stabile of the FSC will moderate the discussion.

Pierre Whatley, CRCM, will specifically address financial de-risking and the banking challenges faced by adult content creators and sex workers. The discussion will also explore legislative and regulatory tools that policymakers and regulators could use to foster a more inclusive banking system.

Advocacy Efforts and Future Engagements

The FSC's efforts extend beyond the upcoming webinar. On Thursday, April 25, the Free Speech Coalition will host a virtual discussion with Joe Cohn, a Congressional candidate described as a strong advocate for the adult industry’s rights. This event, scheduled for 4 p.m. PT / 7 p.m. ET, invites adult industry members to participate.

Joe Cohn, who is running for Congress in November, previously worked for both the ACLU and FIRE, where he assisted and supported the FSC in its fight against age verification. The virtual event will focus on protecting the rights of adult entertainment industry professionals. Cohn brings 20 years of experience as a civil rights and liberties attorney to his advocacy for the adult industry.

The FSC's ongoing engagement with Congressional offices, regulators, and anti-trafficking organizations underscores its commitment to addressing financial discrimination. The organization continues to highlight the impact of derisking on adult businesses and workers, particularly their ability to access essential financial services in a digitally driven world.

Key Facts

  • The Free Speech Coalition (FSC) is hosting a webinar on derisking practices on April 24.
  • The webinar is titled "Derisking: Examining Its Impact on the Adult Industry's Access to Banking Services."
  • Panelists include Alison Boden, Allie Eve Knox, Jessica Goedtel, Aaron Kahler, and Pierre Whatley, with Mike Stabile moderating.
  • The event marks the one-year anniversary of the FSC's "Financial Discrimination and the Adult Industry" report.
  • The report found that over 60 percent of adult workers have lost a bank account or financial tool due to industry association.
  • FSC has met with over 40 Congressional offices and other stakeholders since the report's release.