New mandates for federal agencies and financial institutions to address alleged bias begin to crystallize

Continuing its rapid pace of Executive Orders (EOs), the Trump Administration recently unveiled an Executive Order designed to prevent so-called "debanking," a practice whereby financial institutions refuse to serve clients for reasons other than financial risk, such as political affiliation or industry association. The EO maintains that regulators have, in the past, encouraged debanking, and instructed regulators to expressly repudiate the practice. The Small Business Administration opened the first salvo on August 26, 2025, sending a letter to thousands of lenders detailing the steps they must take to come into compliance with the EO. Financial institutions should consider updat

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