Trump Asks Federal Regulators to Investigate Alleged “Debanking” of Conservatives
President Donald Trump has signed a new executive order asking federal bank regulators to investigate whether banks have been unfairly closing accounts or refusing services to conservatives and certain industries. These industries include gun manufacturers and cryptocurrency companies, which Trump says have been targeted in recent years. The issue at the center of the order is something called “debanking.” This happens when a bank closes an account or refuses to do business with a person or company. Banks say they usually make these decisions based on financial risk, not politics. But Trump and many conservatives believe that some people and…