Civil liberties activist Rainey Reitman introduces readers to the concept of “financial censorship”—a form of privatized censorship where banks and payment intermediaries act as censors in ways the government couldn’t do directly without violating the First Amendment. Reitman examines financial companies and the role they have played in policing speech, as well as the laws and corporate policies that have enabled this form of censorship.

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Weaving together over a decade of research with interviews and narratives from those personally impacted by financial censorship, Reitman reveals how financial exclusion has become a tool to pressure marginalized voices into silence.

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From the executive director of a voting rights nonprofit to a teacher of Iranian poetry, to adult content creators and the cannabis community, Reitman uplifts the voices of those who have been targeted by these powerful institutions. She uses their stories as a launching point to explore larger issues about who should have the power to censor in a democratic society.

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Insightful and fresh, Transaction Denied exposes this new and alarming form of censorship and offers a path forward by advocating for communities affected by financial exclusion and calling for more transparency of our financial systems.