I strongly disagree about this being a recent thing, this has been happening for decades at this point.

2015 article that starts "For nearly a decade, PayPal, JPMorgan Chase, Visa/MasterCard, and now Square, have systematically denied or closed accounts of small businesses, artists and independent contractors whose business happens to be about sex."

https://www.engadget.com/2015-12-02-paypal-square-and-big-ba...