President Donald Trump signed an executive order on August 7, 2025, directing federal banking regulators to eliminate the use of 'reputational risk' and similar concepts from their guidance. This order aims to prevent financial institutions from denying or restricting services based on political beliefs, religious beliefs, or lawful business activities, a practice commonly referred to as 'debanking.' The administration views debanking as a discriminatory practice that has affected conservatives, including Trump himself, and could potentially bankrupt conservative businesses. The executive order mandates regulators to review these debanking practices to ensure Americans are not deprived of access to banking services due to their opinions. In addition to this financial regulatory action, Trump is also pursuing changes in Federal Reserve leadership, nominating a White House insider to the Fed, signaling his intent to reshape the central bank. This move has drawn mixed reactions, with some expressing concern over the politicization of the Fed, while others, including Forbes editor-in-chief Steve Forbes, have praised the decision. Concurrently, Trump continues to enforce tariff policies, which have raised tensions and drawn criticism for their potential impact on American industries. Supporters of Trump view these steps as a major advancement in protecting financial freedom and addressing the challenges posed by large banks and credit card companies accused of targeting conservatives.