US EditionTrump to Sign Order Penalizing Banks That Discriminate Against Conservatives
UNITED STATES, AUG 5 – The order will impose fines and disciplinary actions on banks that drop customers for political reasons, with regulators instructed to investigate potential violations of financial laws.
- President Donald Trump plans to sign an executive order targeting banks that allegedly reject business based on political beliefs, aiming to penalize institutions for such actions.
- JPMorgan and Bank of America have denied claims of discrimination against Trump, insisting they do not close accounts for political reasons.
- Trump accused federal banking regulators of bias against him during the Biden administration, further complicating the ongoing debates over bank policies and client relationships.
- Both JPMorgan and Bank of America denied allegations of ideological discrimination, emphasizing that they do not close accounts for political reasons.
62 Articles
62 Articles
Trump to Sign Order Penalizing Politically Motivated ‘Debanking’
President Donald Trump plans to sign an executive order cracking down on “debanking,” a term used to describe financial institutions that selectively close customer accounts or deny services based on political or ideological beliefs. The order directs bank regulators to investigate whether any financial institutions might have violated the Equal Credit Opportunity Act, antitrust laws, or consumer financial protection laws, The Wall Street Journa…
President Takes on Prominent Banks & Debanking of Conservatives
The White House is preparing an executive order that threatens fines for banks that deny services on political grounds, citing the experiences of conservative groups and crypto companies, The Wall Street Journal reported Monday. Trump alleged in a CNBC interview that JPMorgan Chase dropped him as a personal banking customer without explanation and Bank of America also […] The post President Takes on Prominent Banks & Debanking of Conservatives a…
Trump prepares executive order to fine banks for dropping conservative customers over political views
President Donald Trump is reportedly preparing an executive order that would fine lenders for terminating customer relationships based on political affiliations or views. The order comes as Trump continues to claim major financial institutions have denied access to right-leaning individuals and those connected to the crypto industry, although banks have rejected the assertion. The order, which could be signed as early as this week, would direct …
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