Trump's Debanking Order Could Create Headaches for Banks, Sources Say

Trump's debanking order could create headaches for banks, sources say

By Nupur Anand, Pete Schroeder and Saeed Azhar

Trump's Debanking Order Could Create Headaches for Banks, Sources Say

President Donald Trump’s executive order requiring banks not to discriminate against clients on political or religious grounds could create uncertainty and administrative headaches for the industry, sources said. Trump signed an executive order on Thursday directing the Treasury Department and bank regulators to ensure lenders do not have policies in place that deny services to customers based on political or religious beliefs, a practice known …

Trump issues executive order to fix rules contributing to debanking – Oklahoma Bankers Association

President Trump issued an executive order on Thursday that directs federal agencies to investigate whether banks and credit unions denied services to customers because of their political beliefs or because they were engaged in certain business activities, such as cryptocurrency. In addition, the order directs agencies to rescind rules and regulations that caused financial institutions to deny services to categories of customers, in particular ru…