🏦Executive Order 14331
Guaranteeing Fair Banking for All Americans
Summary
Executive Order 14331 aims to guarantee fair banking access by prohibiting restrictions based on political or religious beliefs. It addresses previous unlawful debanking practices and mandates financial institutions to focus on objective risk analysis when providing services. The order outlines clear guidelines for banking regulators to eliminate politicized actions and reinstates access for previously denied clients.
Agencies
- Executive Office of the President
Business Impact
$$$ - High
This Executive Order prohibits discrimination against businesses based on political or religious beliefs, impacting compliance requirements for financial institutions. It requires banking regulators to eliminate politicized debanking practices, thus affecting access to financial services for many businesses. Financial institutions must identify and reinstate previously denied clients, directly influencing operational and regulatory practices.