President Trump is to issue an executive order that will ensure banks cannot discriminate against conservatives and other individuals whose political opinions they don’t like.
The Wall Street Journal reports that the order will direct bank regulators to investigate should financial institutions be accused of violating the Equal Credit Opportunity Act, antitrust laws, or consumer financial protection laws.
Any institutions found guilty of doing that would be subject to fines or consent decrees, the report notes.
Exclusive: The White House is preparing to step up pressure against big banks over perceived discrimination against conservatives and crypto companies with an executive order https://t.co/Flha5sPtCN
— The Wall Street Journal (@WSJ) August 4, 2025
It also states that cases would be referred to the Attorney General and dealt with by the Justice Department which recently launched a task force to look into allegations of debanking due to “impermissible factors.”
The post further notes that the draft order cites some banks that might have been involved with the investigation into the events of January 6, 2021.
In comments to CNBC this morning, Trump accused the country’s two largest US banks, JPMorgan Chase and Bank of America of denying him as a customer.
? BREAKING: President Trump CONFIRMS he'll be signing an executive order to PUNISH banks for de-banking conservatives
— Nick Sortor (@nicksortor) August 5, 2025
Trump even talks about how HE was de-banked after the 2020 election.
"[CEO of Bank of America] was kissing my ass when I was president, and when I called him… pic.twitter.com/vzWlnDu2vZ
“The banks discriminated against me very badly, and I was very good to the banks,” Trump said, adding that “they discriminate against many conservatives.”
“I had hundreds of millions. I had many, many accounts loaded up with cash. I was loaded up with cash, and they told me, ‘I’m sorry, sir, we can’t have you. You have 20 days to get out,'” Trump said of JPMorgan Chase.
Trump said he then went to Bank of America “to deposit a billion dollars plus” and was told ‘We can’t do it.’”
“I ended up going to small banks all over the place,” Trump asserted.
A JPMorganChase spokesperson told the Journal that it supports fair access to banking services and has not closed any accounts based on political or religious beliefs.
“We don’t close accounts for political reasons, and we agree with President Trump that regulatory change is desperately needed. We commend the White House for addressing this issue and look forward to working with them to get this right, a statement urged.
Bank of America, which has previously been accused of shutting down the accounts of Christian organizations, stated “We’ve provided detailed proposals and will continue to work with the administration and Congress to improve the regulatory framework.”
Perhaps the most high profile debanking case was that of Reform leader Nigel Farage in the UK.
Farage revealed that Coutts, a private bank owned by NatWest closed his account, initially citing commercial reasons related to a wealth threshold. Farage then obtained a 40-page dossier via a subject access request, revealing that his political views, described as “xenophobic and racist” and incompatible with the bank’s values, were a significant factor in the closure, sparking a major controversy.
The scandal led to the resignations of NatWest CEO Dame Alison Rose, after she admitted to discussing Farage’s case with a BBC journalist, and Coutts CEO Peter Flavel, with NatWest later apologizing for “serious failings” in handling the case, though claiming the closure was lawful and primarily commercial.
The incident prompted UK government reforms, including a 90-day notice period for account closures, and Farage settled with NatWest in March 2025 for an undisclosed sum, withdrawing threats of legal action, highlighting broader concerns about banks closing accounts based on political beliefs.
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Canadians face this discrimination and will likely create fully warranted Assasinations.
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