'Debanking' is an obscene abuse of government power
Post Editorial Board“Debanking” seems like something out of paranoid dystopian fiction, but this horrific abuse of government power is already all too real.
We’re almost glad the Biden crew deployed it against then-former-President Donald Trump in 2021: That not only ensures he’s aware of this outrage; it points to how even the powerful are vulnerable.
It’s as simple as it is scary: Government regulators give a quiet nod to financial institutions that certain people or industries are to be “unpersoned,” and pretty soon they get the same treatment as North Korean tyrants, terrorists or drug kingpins: locked out of the financial system, which means social death.
The victim gets turned away at other banks, all with no way to appeal what’s blandly painted as a “business decision.”
Just try life without any ready way to cash checks or pay bills, not even a debit card — nor, if you run a business, a line of credit to pay suppliers and meet payroll.
The abuse apparently began under President Barack Obama, deployed against disfavored businesses such as gun manufacturers on the laughable ground that they posed a “reputational risk”; it expanded under President Joe Biden to hit crypto and tech startups, as well as individuals whose opinions or political activity got labeled “dangerous.”
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https://nypost.com/2025/08/06/opinion/debanking-is-an-obscene-abuse-of-government-power/
