This executive order directs federal banking regulators and the Small Business Administration (SBA) to eliminate guidance, practices, and regulatory frameworks that enable politicized or unlawful debanking, particularly targeting individuals and businesses based on political or religious beliefs. It aims to safeguard fair access to financial services by requiring regulators to remove "reputation risk" considerations, identify and reinstate victims of debanking, and enforce penalties where violations occur. The order also mandates a comprehensive Treasury-led strategy to combat discriminatory banking practices, including referrals for civil enforcement in cases of religious discrimination.
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