By Nupur Anand, Pete Schroeder and Saeed Azhar

NEW YORK (Reuters) -U.S. President Donald Trump’s executive order requiring banks not to discriminate against clients on political or religious grounds could create uncertainty and administrative headaches for the industry, sources said.

Trump signed an executive order on Thursday directing the Treasury Department and bank regulators to ensure lenders do not have policies in place that deny services to customers based on political or religious beliefs, a practice known as “debanking.” Any wrongdoing uncovered could result in fines, disciplinary measures, and even referrals to the Justice Department.

The order came days after Trump accused JPMorgan Chase and Bank of America last week of debanking him, and alleged that lenders discriminate ag

See Full Page