President Donald Trump signed an executive order directing federal banking regulators to eliminate the concept of reputational risk and similar considerations from their guidance. The order aims to prevent financial institutions from denying or restricting services based on political beliefs, religious beliefs, or lawful business activities. This move is part of a broader effort by the Trump administration to reshape banking and finance, with some aspects welcomed by Wall Street and others met with concern. Additionally, Trump is expected to sign a second executive order to overhaul federal grant funding. The banking industry, including organizations such as the Bank Policy Institute, the American Bankers Association, the Consumer Bankers Association, and the Financial Services Forum, issued statements supporting the order's goal to promote access to financial services. Senator Tim Scott publicly praised the executive order for addressing the issue of debanking.