Executive Branch

Trump Targets Politicized Debanking in New Executive Order

The new order requires regulators to investigate whether banks have engaged in ‘politicized or unlawful debanking’ and to issue penalties.
Trump Targets Politicized Debanking in New Executive Order
President Donald Trump speaks before signing an executive order in the South Court Auditorium in the Eisenhower Executive Office Building in Washington, on Aug. 5, 2025. Win McNamee /Getty Images
Emel Akan
Emel Akan
Reporter
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0:00

WASHINGTON—President Donald Trump signed an executive order on Aug. 7 to stop banks from denying people financial services because of their political or religious beliefs, a practice known as debanking.

According to a White House fact sheet, the executive order requires federal banking regulators to investigate whether banks have engaged in “politicized or unlawful debanking” and to issue penalties such as “fines or consent decrees.”
Emel Akan
Emel Akan
Reporter
Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the policies of the Trump administration. Previously, she reported on the Biden administration and the first term of President Trump. Before her journalism career, she worked in investment banking at JPMorgan. She holds an MBA from Georgetown University.
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