Fact Sheet: President Donald J. Trump Guarantees Fair Banking for All Americans

1. Executive Order Against Politicized or Unlawful Debanking

• President Trump signed an Executive Order to prevent federal regulators from allowing banks to deny or restrict services based on political or religious beliefs, or lawful business activities.
• Federal banking regulators must remove “reputational risk” and similar concepts from their guidance and manuals that could enable politicized or unlawful debanking.
• The Small Business Administration is required to ensure financial institutions make reasonable efforts to reinstate clients previously denied services due to unlawful debanking.
• The Secretary of the Treasury is tasked with developing a comprehensive strategy to further combat politicized or unlawful debanking, including possible legislative or regulatory solutions.
• Federal banking regulators must review financial institutions for past or current policies encouraging politicized or unlawful debanking and take remedial actions, including fines or consent decrees.
• Any instances of unlawful debanking based on religion must be referred to the Attorney General.

2. Addressing Unfair Banking Practices

• President Trump asserts that no American should be denied access to financial services because of their political or religious beliefs.
• Banking decisions must be based solely on individualized, objective, and risk-based analyses.
• The order responds to systemic abuses by financial institutions that undermine free expression and economic opportunity.
• Examples cited include banks denying services for Republican events, flagging transactions with companies like Bass Pro Shop or Cabela’s, or for using terms like “Trump” or “MAGA” in payments, without evidence of criminal activity.
• President Trump claims that two major banks even denied his own business.
• The Senate Banking Committee held a hearing on debanking, with witnesses sharing firsthand experiences.
• Operation Chokepoint, a federal debanking initiative, and the digital assets industry have also been targets of unfair debanking.
• These practices erode public trust, harm livelihoods, freeze payrolls, and impose financial burdens on law-abiding Americans.

3. Upholding Economic Freedom

• President Trump is committed to protecting constitutional rights and reducing regulatory overreach that stifles businesses and individuals.
• He states that banks “discriminate against many conservatives,” including himself, and that regulators are pressuring banks not to do business with certain groups.
• Trump promises to end these practices, stating, “Nobody knows the banking industry better than me, and I’m not going to let them take advantage of you any longer.”
• The Trump Administration claims to have already ended “Operation Chokepoint 2.0” by stopping regulatory efforts that deny banking services to the digital assets industry.