EO 14331
Guaranteeing Fair Banking for All Americans
Economy & TradeGovernment Reform
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Summary
This executive order directs federal banking regulators to prohibit financial institutions from denying banking services based on customers' political beliefs, religious affiliations, or lawful business activities. It requires regulators to remove 'reputation risk' concepts from guidance documents that could enable such discrimination and mandates efforts to identify and reinstate customers previously denied service through alleged political debanking.
Key Points
- 1Prohibits financial institutions from denying or restricting access to banking services based on political beliefs, religious affiliations, or lawful business activities
- 2Requires federal banking regulators to remove 'reputation risk' and related concepts from regulatory guidance within 180 days that could result in politically motivated debanking
- 3Directs the SBA to notify financial institutions to identify and reinstate previous clients denied service through alleged politicized debanking within 120 days
- 4Defines 'politicized or unlawful debanking' as restricting financial services based on customer political/religious beliefs or lawful business activities the provider disfavors for political reasons
- 5Applies to federal banking regulators including the SBA and Financial Stability Oversight Council member agencies with supervisory authority
This summary is for informational purposes only. It may not capture all nuances of the executive order. Always refer to the official text for authoritative information.
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