White House Preps Order to Punish Banks That Discriminate Against Conservatives

[dalton99a]

https://www.msn.com/en-us/money/companies/white-house-preps-order-to-punish-banks-that-discriminate-against-conservatives/ar-AA1JUey5

White House Preps Order to Punish Banks That Discriminate Against Conservatives
By Dylan Tokar, Alexander Saeedy

The White House is preparing to step up pressure against big banks over perceived discrimination against conservatives and crypto companies with an executive order that threatens to fine lenders that drop customers for political reasons.

A draft of the executive order, which was viewed by The Wall Street Journal, directs bank regulators to investigate whether any financial institutions might have violated the Equal Credit Opportunity Act, antitrust laws or consumer financial protection laws.

The draft order doesn’t name any specific banks but appears to refer to an instance where Bank of America was accused of shutting down the accounts of a Christian organization operating in Uganda based on the organization’s religious beliefs. The bank has said it shut down the accounts because it doesn’t serve small businesses operating outside the U.S.

The draft order also criticizes the role that some banks played in an investigation into the Jan. 6, 2021, riots at the U.S. Capitol.

When asked about The Wall Street Journal’s report on the draft order in a CNBC interview Tuesday, President Trump recounted his own experiences being dropped as a bank customer, including at JPMorgan Chase.

“The banks discriminated against me very badly, and I was very good to the banks,” Trump said.

...

[C_U_L8R]

1. I wouldn't lend money

to someone who demonstrates poor judgement... no matter what the reason.

[bucolic_frolic]

2. Imaginary problem in search of justification

Banks don't care. They lend, they make money.

[markodochartaigh]

3. I wonder if this was a US church promoting Ugandan anti-lgbtq laws?

https://www.msnbc.com/opinion/msnbc-opinion/uganda-anti-lgbtq-bill-rcna76630

https://depts.washington.edu/globalhealthjustice/1120-2/

[Bernardo de La Paz]

8. Bank of America has rules against lending to foreign charities (if I heard report correctly). . . . . nt

[Lovie777]

4. waterloo...............

Little Bighorn, 1929..................................................................................

GQP, magas..............................................................................................

2nd depression.

[underpants]

5. Shouldn't they be investigating for banks that will lend Trump money?

[Bernardo de La Paz]

6. Banks have rules against doing biz w people w felony indictments, let along convictions. . . . nt

[haele]

7. More like punishing banks that refuse to lend to crooks.

Or companies found to falsify their books and hide issues, Ponzi schemes, debts, or revenue streams.

"Conservative" businesses aren't always crooked and operate under Mob "principles", but crooked or Mob businesses typically hide behind the "Conservative" business label.

[Midnight Writer]

9. It's OK for doctors and nurses to turn down services to liberals, but not for banks to turn down service

to someone who claims to be a Trump supporter.

What a Brave New World we are entering.

[Liberal In Texas]

10. Jeezus...Banks stopped lending him money because he was a deadbeat.

He stiffed them too many times. That's why he started getting funding from Russia. They didn't mind getting their hooks into him.

[usedtobedemgurl]

11. I believe this is really important!

The part where they are dis dominating against crypto is what is behind this. Trump has dealings in crypto. It has been rumored he would love to try and replace our money with crypto. I think he is making a move to try and legitimize crypto currency.

[Torchlight]

12. After which, the water-carriers can lecture, "this was banks' decision, not the admins"

while curiously leaving out the leverage, heavy-hands, and threats by the admin that often compel a "decision" these days.