Christian, conservative groups optimistic Trump may rein in ‘debanking’

Some Christian and conservative organizations are expressing optimism that President Donald Trump may rein in “debanking” — a practice in which financial institutions have allegedly cut ties with people or groups for their religious or political beliefs.

The Wall Street Journal reported on Aug. 5 that the White House drafted an executive order that would instruct regulators to investigate financial institutions accused of ending relationships with customers for political reasons.

According to the report, the draft would direct regulators to determine whether the institutions violated the Equal Credit Opportunity Act, antitrust laws, or consumer financial-protection laws and subsequently issue monetary penalties, consent decrees, or take other disciplinary action that would apply.

Jennifer Morse, a Catholic who leads the Ruth Institute, told CNA she is “glad to see the Trump administration addressing the debanking issue.”

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