Trump Signs Executive Order Cracking Down on ‘Debanking’: ‘Incompatible with a Free Society’

President Trump signed an executive order Thursday aimed at preventing banks from refusing to offer financial services to people based on their political beliefs or lawful business activities – a practice known as “debanking.”

“It is the policy of the United States that no American should be denied access to financial services because of their constitutionally or statutorily protected beliefs, affiliations, or political views, and to ensure that politicized or unlawful debanking is not used as a tool to inhibit such beliefs, affiliations, or political views,” Trump wrote in his order.

“Banking decisions must instead be made on the basis of individualized, objective, and risk-based analyses,” he added.

Earlier this week, Trump accused JPMorgan Chase and Bank of America of rejecting more than $1 billion of his deposits for political reasons.

“The banks discriminated against me very badly,” he told CNBC on Tuesday.

Former Republican Kansas Gov. Sam Brownback recently alleged he was “debanked” by JPMorgan over his conservative religious views – a claim the bank denied. (Read more from “Trump Signs Executive Order Cracking Down on ‘Debanking’: ‘Incompatible with a Free Society’” HERE)

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