White House Preps Order to Punish Banks That Discriminate Against Conservatives The White House is preparing to step up pressure against big banks over perceived discrimination against conservatives and crypto companies with an executive order that threatens to fine lenders that drop customers for political reasons. A draft of the executive order, which was viewed by The Wall Street Journal, directs bank regulators to investigate whether any financial institutions might have violated the Equal Credit Opportunity Act, antitrust laws or consumer financial-protection laws. Violators could be subject to monetary penalties, consent decrees or other disciplinary measures, according to the draft. {snip} The draft order doesn’t name any specific banks but appears to refer to an instance where Bank of America was accused of shutting down the accounts of a Christian organization operating in Uganda based on the organization’s religious beliefs. The bank has said it closed the accounts because it doesn’t serve small businesses operating outside the U.S. {snip} Banks have been on edge about potential action by the Trump administration. The Journal reported in June that the administration was considering an executive order. Conservatives for years have accused banks of denying them services on political or religious grounds, and cryptocurrency companies have said they were shut out of banking services under the Biden administration.
I thought REpublicans believed that private enterprises should be allowed to discriminate. Or does that only apply to whites discriminating against blacks and gays?
You think banks didn't consider that before they it? Obviously their conclusion is it isn't bad business.
It's not just the banks, blue states pressured every bank in the state to discriminate. It's cancel culture, big money is America last.
Kudlow slams big banks after Trump alleges discrimination Larry Kudlow, a leading host on Fox Business and a former director of the National Economic Council during President Trump’s first term, slammed one of the nation’s largest banks after the president alleged it turned away his business after he left the White House in 2020. “Now the banks will tell you — and I’ve talked to all the senior people there — that the regulators forced them because of Jan. 6, because of criminal charges made against him in 2022,” Kudlow said Tuesday during an appearance on Fox. “They threatened fines, the regulators threatened criminal proceedings against the banks.”
If the blowback was unacceptable they would have changed their policies on their own and Trump wouldn't need to make a temporary executive order for them to temporarily change their policies until 2029.