Biden behind Trump ‘debanking’ effort after Jan. 6: Report

Due to pressure from the Biden administration, nearly a dozen financial institutions “debanked” President Donald Trump following the Capitol riot on January 6, 2021, according to a new report. 

Sources inside the Trump Organization told the New York Post that at least ten banks blacklisted Trump shortly after his first term as president ended over his alleged role in the January 6 Capitol riot. 

The Biden administration, including the Office of the Comptroller of the Currency, the FDIC, and the Federal Reserve, allegedly targeted individuals and companies it didn’t like by pressuring banks to reject their business using “reputational risk” policies. 

In addition to Trump, those impacted allegedly include gun businesses, cryptocurrency firms, and religious organizations. 

There was no official written order to cancel Trump and other organizations, but bank officials said the pressure was evident. 

Last week, Trump signed an executive order to block financial institutions from engaging in “unacceptable practices to restrict law-abiding individuals’ and businesses’ access to financial services on the basis of political or religious beliefs or lawful business activities.”

“As a result, individuals, their businesses, and their families have been subjected to debanking on the basis of their political affiliations, religious beliefs or lawful business activities, and have suffered frozen payrolls, debt and crushing interest, and other significant harms to their livelihoods, reputations, and financial well-being,” the order states. “Such practices are incompatible with a free society and the principle that the provision of banking services should be based on material, measurable, and justifiable risks.”

“It is the policy of the United States that no American should be denied access to financial services because of their constitutionally or statutorily protected beliefs, affiliations, or political views, and to ensure that politicized or unlawful debanking is not used as a tool to inhibit such beliefs, affiliations, or political views,” it continues.