Former President Donald Trump has signed an executive order titled "Guaranteeing Fair Banking for All Americans," aimed at curbing what the White House calls “politicized or unlawful debanking.” The directive prohibits banks and other financial institutions from denying, restricting or modifying services on the basis of a customer’s political or religious beliefs or other lawful activity that a lender disfavors for non-financial reasons. The order follows publication of a report alleging that President Joe Biden and senior regulators leaned on at least a dozen corporations—including JPMorgan Chase and Bank of America—to close or refuse accounts held by Trump after he left office, citing the banks’ “reputational risk.” Under the new rules, institutions have 120 days to rescind any such policies, identify affected customers and offer to restore service. Treasury Secretary-designate Monica Crowley has 180 days to present a government-wide strategy for enforcing the order and proposing additional legislative or regulatory measures. Concurrently, the Federal Reserve, FDIC and Office of the Comptroller of the Currency have begun removing “reputational risk” from their supervisory frameworks, reversing guidance adopted during the Biden administration. On Capitol Hill, Senator Tim Scott said he will introduce a bill that would bar regulators from pressuring banks through informal supervision and would codify limits on the use of reputational risk. In the private sector, newly chartered Old Glory Bank is marketing itself as an alternative for customers who fear viewpoint discrimination. Critics of the executive order say it could be difficult to distinguish between legitimate risk management and politically motivated account closures, while supporters argue that greater transparency and competition will reduce regulatory overreach. Financial institutions now face tighter timelines to document the basis for any account termination and to demonstrate that decisions rest on objective, risk-based criteria.