Trump Plans Executive Order Targeting Banks for Conservative, Crypto Discrimination

President Donald Trump is preparing to sign an executive order aimed at cracking down on financial institutions accused of discriminating against conservatives and cryptocurrency companies by shutting down their accounts for political or religious reasons. The order will empower regulators to investigate violations of the Equal Credit Opportunity Act, antitrust laws, and consumer protection statutes, with potential penalties including fines, consent decrees, and public naming of violators. Trump has publicly confronted major banks such as Bank of America and JPMorgan Chase, accusing them of debanking conservatives and recounting personal experiences of being denied banking services. Cryptocurrency executives have alleged that the Biden administration pressured banks to exclude crypto clients, a practice described as "Operation Choke Point 2.0," which the new order seeks to address by reviewing and potentially rolling back related regulatory policies. Banks have defended their actions as based on legal and financial risk assessments, with some expressing willingness to collaborate on regulatory clarity. This initiative is part of a broader effort by the Trump administration to ensure fair access to banking services regardless of political or religious affiliation.