Frameworks for Assessing Financial Censorship and Its Implications

Abstract

This case explores numerous frameworks to describe and assess issues related to the evolving financial censorship controversy from a stakeholder perspective. The January 6, 2021, Capitol riots, 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 conduct, or extreme opinions, while other companies have refrained. The financial industry and its stakeholders are deeply concerned about the legal, ethical, and social responsibility aspects of the controversy and its key challenges, limitations, and consequences. Readers are asked to assess financial censorship employing multiple approaches and models to enrich their understanding of the phenomenon by analyzing its sources, implementation, and impact on industry factors such as governance, technology, and innovation.