Trump Executive Order To Probe Debanking Of Crypto Firms: WSJ
Donald Trump is preparing to sign a sweeping executive order to investigate banks and regulators accused of debanking crypto businesses — the practice of denying financial services on a discriminatory basis. That’s a ccording to an Aug. 4 report by the Wall Street Journal, which said regulators in the banking industry will be instructed to investigate whether any financial institutions violated antitrust, consumer financial protection or fair lending practice laws under the Biden administration. The order also calls on banks to eliminate any internal policies that may have led to the closure of accounts tied to political beliefs or crypto activity, including those affecting conservative organizations. Institutions found to be in violation could face fines or legal action, and serious cases will be referred to the Department of Justice. No banks were named, but the WSJ story said the order has reportedly criticized the role of firms that are said to have helped fede...