The White House is drafting an executive order that would empower financial regulators to penalise large banks for allegedly denying services or closing accounts on the basis of customers’ political views or involvement with cryptocurrency firms, the Wall Street Journal reported. Under the proposal, lenders found to have discriminated against conservatives or digital-asset businesses could face fines. The order would also instruct regulators to probe banks for potential violations of credit, antitrust and consumer-protection laws tied to such account closures. The measure could be signed as soon as this week, according to people familiar with the discussions. Conservative organisations and crypto companies have long complained of reduced access to banking services, while banks argue that account terminations often stem from risk-management and compliance requirements. The White House and major lenders have not publicly commented on the draft.