US EditionTrump to Sign Order Penalizing Banks That Discriminate Against Conservatives
UNITED STATES, AUG 6 – The order targets banks for politically motivated account closures and could impose fines, marking a shift in federal policy amid claims of discrimination against conservatives and crypto firms.
- The White House is drafting an executive order to fine banks for terminating customers over political beliefs or crypto ties, possibly signing it this week.
- Amid mounting complaints, conservatives and crypto-related firms have accused major Wall Street banks of politically motivated account closures, which banks deny, citing legal or regulatory risks.
- During a CNBC interview on Tuesday, Trump said `the banks discriminated against me very badly`, citing JPMorgan Chase's account closure demand and Bank of America's refusal of his $1 billion deposit.
- Industry groups noted, Bank Policy Institute spokesperson Austin Anton said Tuesday, ``The heart of the problem is regulatory overreach and supervisory discretion,'' and regulators pledged to eliminate reputational risk from bank exams.
- Looking forward, the draft order aims to reverse banking restrictions on crypto, as UK regulators recently banned a Coinbase ad campaign, highlighting global banking tensions.
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90 Articles
White House Prepares Executive Order Targeting Politicized Debanking
WASHINGTON—President Donald Trump is expected to take action against “politicized or unlawful debanking” practices, building off his own experience being denied service by JPMorgan and Bank of America.Sources with direct knowledge of the matter told the New York Post that JPMorgan and Bank of America debanked the president and his tens of millions of dollars after President Joe Biden’s administration’s pressured banking regulators and the Federa…
White House to target banks as Trump claims discrimination - Hawaii Tribune-Herald
WASHINGTON/NEW YORK — President Donald Trump on Tuesday said he believes that banks, including JPMorgan and Bank of America, discriminate against him and his supporters, as he prepares to act against banks for allegedly dropping customers for political reasons.
Trump claims big US banks shunned him over conservative politics
NEW YORK, Aug 6 — President Donald Trump said yesterday that major US banks had turned down his business as part of an alleged pattern of political discrimination against conservatives that right-wing figures have long claimed.“They discriminate against many conservatives,” said Trump, who reportedly is preparing an executive order to address the issue.Trump, in an interview on CNBC, said both JPMorgan Chase and Bank of America had shunned him.J…
Trump to Sign Executive Order Targeting Banks Accused of Debanking Conservatives.
PULSE POINTSWHAT HAPPENED: President Donald J. Trump criticized major banks for allegedly discriminating against conservatives through debanking, where financial institutions close or refuse accounts.WHO WAS INVOLVED: Donald Trump, JPMorgan Chase, Bank of America, and other financial institutions. Bank of America CEO Brian Moynihan also commented on the issue.WHEN & WHERE: Comments were made during an interview with CNBC on August 5, following r…
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