Trump’s Executive Order prohibits ‘politicised or unlawful de-banking’ ensuring that FIs cannot restrict or deny services on the basis of political beliefs, religion, or lawful business activities

The order requires regulators to review past and current banking practices, remove guidance that could facilitate politically motivated account restrictions, and mandate that financial institutions notify and reinstate affected customers. By establishing clear procedures for identifying and remedying discriminatory debanking, the administration seeks to reinforce the principle that access to banking services should be based on objective…