By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered:
Section 1. Purpose.
In recent times, financial institutions have been found engaging in practices that are less than acceptable, effectively limiting the access of law-abiding individuals and businesses to essential financial services based on political or religious beliefs, or on the nature of their lawful business activities. Notably, certain financial entities have participated in government-directed surveillance programs, which were ostensibly aimed at individuals involved in activities often associated with conservatism and the political right, particularly in the wake of the events surrounding January 6, 2021. The Federal Government even suggested that these institutions should flag individuals making transactions with companies such as “Cabela’s” and “Bass Pro Shop,” or those using terms like “Trump” or “MAGA,” despite a glaring absence of evidence connecting these individuals to any criminal activities.
Regulatory bodies have exercised their supervisory powers in ways that appear to encourage politicized or unlawful debanking. “Operation Chokepoint” serves as a prime example—an initiative whereby federal regulators encouraged banks to diminish their dealings with individuals and businesses operating in lawful sectors that regulators disfavored, based on criteria that were anything but objective or risk-based.
The consequence of these actions has been detrimental: individuals and their businesses have faced debanking due to their political affiliations or religious beliefs, leading to frozen payrolls, mounting debts, and crippling interest rates. Such practices fundamentally clash with the tenets of a free society, where the provision of banking services ought to be grounded in material, measurable, and justifiable risks. Furthermore, practices that discriminate against customers based on their religious beliefs breach the Equal Credit Opportunity Act (15 U.S.C. 1691 et seq), eroding public trust in banking institutions and their regulators while weaponizing a politicized regulatory framework.
Sec. 2. Policy.
The policy of the United States is clear: no American should be denied access to financial services due to their constitutionally or statutorily protected beliefs, affiliations, or political views. It is imperative to ensure that politicized or unlawful debanking is not employed as a mechanism to suppress these beliefs or affiliations. Decisions regarding banking must be grounded in individualized, objective, and risk-based assessments.
Sec. 3. Definitions.
(a) The term “politicized or unlawful debanking” describes actions taken by banks, savings associations, credit unions, or other financial service providers that adversely restrict or modify the access to or conditions of accounts, loans, or other financial services for customers based on their political or religious beliefs, or on lawful business activities that the financial service provider finds objectionable for political reasons.
(b) The term “Federal banking regulators” refers to the Small Business Administration (SBA) and the federal member agencies of the Financial Stability Oversight Council that hold supervisory and regulatory authority over banks, savings associations, or credit unions.
Sec. 4. Removing Reputation Risk and Politicized or Unlawful Debanking.
(a) Within 180 days of the date of this order, each relevant Federal banking regulator shall, to the fullest extent permissible by law, eliminate the concepts of reputation risk and similar notions that could lead to politicized or unlawful debanking from their guidance documents, manuals, and other materials used in regulating or examining financial institutions. This removal shall be communicated clearly through formal guidance to examiners. Federal banking regulators will also assess the need to rescind or amend existing regulations to prevent politicized or unlawful debanking, ensuring that the reputation of any regulated entity is only considered in relation to a reasonable and apolitical risk-based assessment.
(b) The SBA, within 60 days of this order, is required to notify all financial institutions that participate in its loan guarantee programs, mandating that these institutions:
(i) Within 120 days of this order, makes reasonable efforts to identify and reinstate any prior clients who were denied service due to politicized or unlawful debanking actions that contravene statutory or regulatory requirements under section 7(a) of the Small Business Act (15 U.S.C. 636), with notifications sent to those affected;
(ii) Within 120 days of this order, identify all potential clients who were denied access to financial services due to politicized or unlawful debanking and notify them of their previously denied options and renewed accessibility;
(iii) Within 120 days of this order, identify all potential clients denied payment processing services and inform them of their right to access these services that were previously denied.
Sec. 5. Scrutinizing Politicized or Unlawful Debanking.
(a) Within 180 days of this order, the Secretary of the Treasury, in collaboration with the Assistant to the President for Economic Policy, will devise a comprehensive strategy aimed at combatting politicized or unlawful debanking actions by financial regulators and institutions across the federal landscape, which may include legislative or regulatory avenues to eliminate such practices.
(b) Within 120 days of this order, each Federal banking regulator is to conduct an examination to identify any financial institutions under its purview that have engaged in past or present policies encouraging politicized or unlawful debanking, taking appropriate remedial actions as permitted by law, which could involve imposing fines, issuing consent decrees, or enforcing other disciplinary measures against institutions found in violation of applicable laws (including section 5 of the Federal Trade Commission Act (15 U.S.C. 45), section 1031 of the Consumer Financial Protection Act (12 U.S.C. 5531), and the Equal Credit Opportunity Act).
(c) Within 180 days of this order, Federal banking regulators shall review their supervisory and complaint data to identify any financial institution that has unlawfully debanked individuals based on religion. If compliance cannot be achieved, these matters will be referred to the Attorney General for potential civil action.
Sec. 6.General Provisions.
(a) Nothing in this order shall be interpreted to diminish or otherwise affect:
(i) the authority granted by law to any executive department or agency, or the head thereof; or
(ii) the functions of the Director of the Office of Management and Budget related to budgetary, administrative, or legislative proposals.
(b) This order shall be executed in accordance with applicable law and subject to available appropriations.
(c) This order is not intended to, and does not, create any right or benefit that is enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other individual.
(d) The costs incurred from the publication of this order shall be the responsibility of the Small Business Administration.
DONALD J. TRUMP
THE WHITE HOUSE,
August 7, 2025.
