The Left and the media claimed that debanking under Biden’s reign of regulatory terror was merely right-wing paranoia. But as more of the facts come out about the scandal of  Operation Chokepoint – Biden’s secretive initiative to force banks to take away banking services from conservative-leaning, but lawful businesses – the more widespread the scandal becomes.

Conservatives and Trump supporters – including both Donald and Melanie Trump as well as certain out-of-favor industries, like gun manufacturers, crypto companies, payday lenders, and the oil and gas and coal producers, were labeled by bank regulators a “reputational risk” because they were regarded as potential enemies of the state. Countless companies and individuals were illegally stripped of their access to banking and financial services like credit cards, checking accounts, and loans.

In short, even the 5,000 (!) federal bank regulators were weaponized against Biden’s enemies.

So thank you, Donald Trump for your Executive Order ending debanking for political beliefs.

Banking expert Stephen Gannon points out that even though “debanking is a fundamentally unfair, and even un-American, process, the evidence is now overwhelming that it did, in fact, happen.”

The villains here were not the banks. Banks aren’t  in the business of turning away customers.

Bank regulators at the Federal Reserve and the Office of the Comptroller of the Currency  “made it clear that if a bank knew what was good for it, it would stop doing business with a particular customer or set of customers.”

Trump has just signed a new executive order making this discrimination illegal – which, in a free society, it should be.

Here is the order:

It is the policy of the United States that no American should be denied access to financial services because of their constitutionally or statutorily protected beliefs, affiliations, or political views, and to ensure that politicized or unlawful debanking is not used as a tool to inhibit such beliefs, affiliations, or political views.  Banking decisions must instead be made on the basis of individualized, objective, and risk-based analyses.