De-banking, more commonly spelled debanking, also known within the banking industry as de-risking, is the closure of people's or organizations' bank accounts by banks that perceive the account holders to pose a financial, legal, regulatory, or reputational risk to the bank.

2 days ago · February 05, 2025 Scott Shines Light on Debanking of Americans, Pledges Solutions. Washington, D.C. – At today’s Senate Banking Committee hearing focused on debanking, Chairman Tim Scott (R-S.C.) highlighted the importance of access to financial services, citing his own story of obtaining a loan to start his small business.

Jan 24, 2025 · “Debanking is un-American – every legal business deserves to be treated the same regardless of their political beliefs. Unfortunately, under Operation Chokepoint 2.0, Biden regulators abused their power and forced financial institutions to cut off services to digital asset firms, political figures, and conservative-aligned businesses and ...

2 days ago · In recent years, prominent American banks have engaged in a discriminatory practice, referred to as debanking. Banks and financial institutions have used their economic standing to categorically exclude law-abiding industries by refusing to lend or provide services to them. This includes industries such as firearms, ammunition, crypto, federal ...

https://crsreports.congress.gov January 29, 2025 De-Banking/De-Risking: Issues for the 119th Congress Banks are an important source of financial services in the

2 days ago · Also prior to Wednesday’s hearing, the committee’s ranking member, Sen. Elizabeth Warren, D-MA, issued a letter urging Trump to support the work of the CFPB, “the main federal agency working to stop unfair debanking,” and direct other agencies to address de-banking.

2 days ago · The Senate Banking Committee will hold a hearing on what is commonly referred to as debanking, hearing testimony from subject matter experts and business owners who claim they were unfairly denied ...

2 days ago · BANKS RESIST DEBANKING CHARGES. The banking industry has fiercely resisted accusations that it denies services based on ideological reasons. It has instead argued that onerous, outdated and opaque ...

Dec 10, 2024 · Cryptocurrencies like bitcoin were conceived as a way to challenge traditional banks. Now, with the help of the tech billionaires Elon Musk and Marc Andreessen, the crypto industry is fighting for...

Aug 5, 2022 · Debanking is an attempt by major financial services corporations to close accounts of organizations or individuals with whom they disagree, whether politically or religiously. Debanking aligns with the environmental, social, and governance (ESG) criteria used by many major financial services corporations.