WASHINGTON, DC — President Donald J. Trump signed an executive order on August 7, 2025, aimed at preventing financial institutions from denying services to Americans based on their political or religious beliefs or lawful business activities. The order comes in response to past instances where banks and regulators allegedly engaged in politically motivated account closures and restrictions.
The order cites examples of financial institutions participating in government-directed surveillance programs after the events of January 6, 2021, flagging transactions related to companies such as Cabela’s and Bass Pro Shops or payments referencing “Trump” or “MAGA” without evidence of criminal conduct. It also references “Operation Chokepoint,” a prior federal effort that pressured banks to limit services to certain legal industries deemed high-risk or controversial by regulators.
Under the new policy, no American may be denied banking services for constitutionally or legally protected beliefs, affiliations, or political views. Regulators are directed to remove subjective concepts like “reputation risk” from oversight policies within 180 days. The Small Business Administration must also identify and reinstate clients denied access to services through unlawful or politically motivated actions, and notify them of restored eligibility.
Federal banking regulators are required to investigate past and present policies that encouraged politicized debanking, impose penalties where violations occurred, and refer religious discrimination cases to the Department of Justice for potential civil action.
This order could have significant implications for firearm-related businesses and gun owners, many of whom have reported account closures or payment processing denials due to their lawful activities. By explicitly prohibiting politically motivated financial discrimination, the order seeks to ensure that lawful industries, including those tied to firearms, have equal access to banking services based on objective risk standards rather than political sentiment.
Read the full article here