Trump Alleges Discrimination by Major U.S. Banks as White House Plans Action on ‘Debanking’

Washington, August 2025 — Former President Donald Trump has accused several large U.S. banks of discriminating against him and his businesses, echoing wider concerns about politically motivated financial practices. His claims come as the Biden administration reportedly prepares an executive order targeting the issue of “debanking.”

In a post on Truth Social, Trump claimed that “major banks have been trying to choke off my companies for political reasons.” Though he did not name specific institutions, the former president framed the alleged treatment as part of a broader political bias in the financial sector.

White House Eyes Executive Order

According to sources cited by Yahoo Finance, the Biden administration is drafting an executive order aimed at preventing financial institutions from cutting off services to individuals or organizations based on political or religious views.

The move is seen as a response to growing backlash over what critics call “debanking” — when banks deny or terminate accounts for controversial figures or organizations.

A senior official said the upcoming order would likely instruct regulatory agencies such as the FDIC and Office of the Comptroller of the Currency to investigate or restrict discriminatory practices within banking institutions.

Part of a Broader Political Battle

This development is unfolding against the backdrop of ongoing debates over free speech, financial access, and political bias. Trump and other conservatives have long accused both tech and financial institutions of targeting right-leaning individuals.

“Access to banking is essential in America — and no one should lose it for expressing political beliefs,” a Republican senator told reporters, applauding the expected White House action.

Banking Industry Responds

While many major banks have not commented on Trump’s recent claims, industry groups have pushed back on the idea that political bias is a factor in client decisions. They argue that account closures usually stem from compliance issues or reputational risk concerns, not political targeting.

Still, critics note that recent examples — including account closures involving gun-related groups, faith-based charities, and political figures — suggest the need for clearer regulations.