President Donald J. Trump has signed an Executive Order aimed at preventing federal regulators from encouraging financial institutions to deny or limit services based on customers’ political or religious beliefs, or their lawful business activities. The order is intended to guarantee that all Americans have fair access to banking.
According to the White House, the move seeks to stop “politicized or unlawful debanking” and ensure that banking decisions are made through “individualized, objective, and risk-based analyses.” The administration stated that President Trump believes no American should be denied financial services due to their beliefs.
“President Trump believes that no American should be denied access to financial services because of their political or religious beliefs, and that banking decisions must solely be made on the basis of individualized, objective, and risk-based analyses,” the statement said.
The order also emphasizes a commitment to protecting constitutional rights and reducing regulatory actions that could hinder businesses and individuals. “President Trump is committed to protecting Americans’ constitutional rights and reducing regulatory overreach that stifles American businesses and individuals,” according to the White House.
