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

[groundloop]

Source: Reuters

U.S. 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 as "debanking." Any wrongdoing uncovered could result in fines, disciplinary measures, and even referrals to the Justice Department.

The order came days after Trump accused JPMorgan Chase and Bank of America last week of debanking him, and alleged that lenders discriminate against conservatives. Large banks have denied rejecting clients on political grounds, and instead blamed unclear rules for some of the account closures.

Banks have earlier said that certain decisions to close accounts were based on rules around reputational risk, a criterion that has been banned by Trump's order.

Read more: https://www.reuters.com/legal/transactional/trumps-debanking-order-could-create-headaches-banks-sources-say-2025-08-14/

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tRump and the entire MAGA cult are great at pretending to be victims.

[no_hypocrisy]

1. Then, hey Slobfather, start your own bank.

Nobody's going to even allow you to open an account with your history of bad credit, dubious income, and money stashed away who-knows-where.

And I'm waiting for the next EO where Slobfather makes banks accept cryto instead of legal tender.

[Attilatheblond]

2. He didn't get de-banked due to politics. He got de-banked for being a deadbeat criminal

and the banks have court records to back them up.

[Blue Owl]

3. The whole phenomenon of "debanking" was probably invented for Dump

That fucker and his bankruptcies and shady deals — who would trust him?

[groundloop]

4. Putin and the Russian mob.

Well, ok, maybe that's not so much "trust" as taking advantage of a useful idiot.