The U.S. Senate Banking Committee and the House Financial Services Committee have held hearings to investigate the practice of 'debanking,' where financial institutions deny services to customers based on their political views or affiliations. The hearings revealed evidence suggesting that government regulators, particularly under the Biden administration, pressured banks to cut off services to digital asset firms, political figures, and conservative-aligned businesses and individuals. Senator Cynthia Lummis presented an internal Federal Reserve document as evidence of what she called 'Operation Chokepoint 2.0,' a term used to describe the alleged regulatory pressure on banks to debank certain sectors. The hearings also discussed the impact of debanking on small businesses and the crypto industry, with testimonies from industry leaders like Coinbase's Chief Legal Officer Paul Grewal and Anchorage Digital CEO Nathan McCauley. In response to these findings, Republican lawmakers have reintroduced the Fair Access to Banking Act, aiming to prevent banks from discriminating against law-abiding businesses for political reasons.