Trump cracks down on big banks with executive order on 'politicized or unlawful debanking'
Briefly

President Donald Trump signed an executive order targeting banks he claims are denying services to conservatives. He accused JPMorgan and Bank of America of refusing his deposits, a matter he raised in interviews. The order demands federal regulators work to reinstate accounts closed based on political affiliation, deeming such actions as 'politicized' debanking. The Treasury Department is responsible for creating new strategies to prevent this kind of discrimination. JPMorgan denounced the claims, affirming it does not close accounts for political reasons, while Bank of America's response to Trump’s assertions was absent.
President Donald Trump signed an executive order aimed at preventing banks from denying services to customers based on their political views, specifically targeting what he calls 'politicized' debanking.
The order mandates federal regulators to act on restoring accounts for individuals who have been unfairly debanked, with the Treasury Department responsible for crafting new regulations.
Trump has claimed that major banks like JPMorgan Chase and Bank of America discriminated against him and other conservatives by denying services or closing accounts.
Despite Trump's allegations, JPMorgan Chase stated that it does not close accounts for political reasons, while Bank of America has been silent on the matter.
Read at Business Insider
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