
The U.S. Small Business Administration on 26 Aug. instructed about 5,000 banks and other lenders in its nationwide network to end what it called “political debanking” and to reopen accounts that had been closed without lawful cause. In letters signed by Administrator Kelly, the agency also demanded data on past account closures that may have targeted customers on ideological grounds. The move implements an executive order President Donald Trump issued earlier this year directing regulators to guarantee “fair banking for all Americans.” Supporters of the action say it responds to concerns that prior administrations encouraged financial institutions to curtail services to certain industries or individuals, a practice critics label debanking. Industry groups and banking regulators had not immediately commented on the SBA’s directive. The agency did not specify a deadline for lenders to report the requested information or restore affected accounts.
The SBA sent a letter to over 5,000 lenders instructing them to end political debanking. Follow: @AFpost https://t.co/q8mM5LyPb0
President Trump is solving this problem but let’s not forget how it started Obama regulators weaponized their power with Operation Choke Point, leading to debanking of whole industries Biden’s goons took it further pushing banks to cut off individual conservatives for thought https://t.co/oywoowx5T5
🚨BREAKING: Peesident Trump's admin. just sent a letter to over 5,000 banks across the country ENDING the debanking of Americans. God bless President Trump! https://t.co/BYrHOFsPzY

