Bank executives blow the whistle on how Obama, Biden admins pressured them to debank conservatives
Story by David Spector • 4h
In the wake of President Donald Trump's executive order outlawing debanking, major bank executives told Fox News Digital that they were under pressure by the Obama and Biden administrations to deny services to individuals and businesses for political reasons.
"Those pressures were very, very real. When your regulator gives you a suggestion, it’s not a suggestion, it’s an order. The political stuff is very real, those pressures are real," a senior banking executive told Fox News Digital.
Debanking refers to the practice of banks closing accounts or denying services to individuals or businesses, often with no explanation. The practice originated as part of federal anti-money laundering laws and regulations. An entity can be debanked after its transactions are marked suspicious, but in recent years, conservative and religious groups have accused banks of discriminating against them for their beliefs.
Fox News Digital spoke with two executives at leading U.S. banks, who asked to remain anonymous, fearing reprisals.
https://www.msn.com/en-us/news/politics/bank-executives-blow-the-whistle-on-how-obama-biden-admins-pressured-them-to-debank-conservatives/ar-AA1KNxWG?ocid=msedgdhp&pc=HCTS&cvid=68a49e563d544323a4948e814dcc0fe0&ei=19