Crapo Stands with President Trump in Strong Opposition to Debanking Practices

Washington, D.C.--U.S. Senator Mike Crapo (R-Idaho) applauds President Donald Trump’s signing of an executive order “guaranteeing free and fair banking for all Americans,” on August 7, 2025.  As a long-time member and former Chairman of the Senate Committee on Banking, Housing and Urban Affairs, Crapo has consistently worked to ensure an even playing field and expand access to financial services to individuals and businesses.

The executive order states that, under the Biden Administration, bank regulators pressured financial institutions to cut off or debank individuals, families and businesses for their “political affiliations, religious beliefs or lawful business activities.”

“I have spent many years challenging banks and federal activities that employ tactics to cut off credit and capital services to law-abiding businesses if they do not comply with the bank’s ‘preferences,’” Senator Crapo said.  “Today, President Donald Trump is taking steps to stop these underhanded methods of advancing a political agenda.  I look forward to continuing to work with this Administration to repeal harmful practices that hinder law-abiding businesses from accessing full-scale banking resources.”

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