Archive · 3 Oct 2025
FDIC to Curb Debanking Following Trump's Concerns
The government is trying to stop banks from closing people's accounts because of their beliefs or what they believe in.
The FDIC, a group that makes sure banks are safe, is planning to vote on a new rule.
This rule would stop bank examiners, the people who check on banks, from forcing banks to close accounts based on someone's political views, religion, or culture.
President Trump has been critical of banks closing accounts for these reasons.
This proposal came after President Trump signed an order to stop the practice of 'debanking' and to find banks that may have done this unlawfully.
FDIC plans to vote on a measure to address 'debanking'.
The proposal aims to prevent account closures based on political, social, or religious grounds.
Trump has previously criticized the practice of debanking.
The FDIC and OCC declined to comment on the proposal.
The OCC and FDIC have asked banks about account closures.
- Who
- FDIC, OCC, and President Trump
- What
- The FDIC is proposing a rule to prevent banks from closing customer accounts due to political, social, or religious grounds.
- When
- The FDIC board will vote on the proposal next week.
- Where
- United States
- Why
- To address concerns about 'debanking' and potential bias in account closures.
Advocates
Critics
Debanking Concerns
Advocates
Consumer advocates express that evidence of widespread 'debanking' is lacking.
Critics
Critics believe some bank examiners pushed lenders to stop doing business with politically sensitive clients.
- Key Players
- FDIC, OCC, Trump
- Proposed Action
- Ban bank examiners from forcing account closures based on political, social, or religious grounds.
- Current Status
- FDIC board to vote on proposal next week.
- Trump's Stance
- Criticizes debanking; signed executive order to address it.
- Agency Response
- FDIC and OCC declined to comment