The Trump administration's efforts to crack down on debanking in the U.S. have found an ally in a group that's cracking down on what they see as corporate wokeness in both the U.S. and in Europe.

Earlier this month, President Donald Trump signed an executive order requiring federal banking regulators to remove "reputational risk" and similar concepts from their guidance and examination materials. The rule also requires financial institutions to reinstate clients and potential clients who were previously denied services due to debanking policies.

Previous standards around "reputational risk" prompted some financial institutions to debank clients, or cut off their access to financial services at those firms over concerns about regulatory compliance. That resulted in some politica

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