White House prepares order targeting banks for "unbanking" for political reasons
reuters.com
reuters.com
The root issue has always been Congress.
the President has authority to allocate enforcement resources. "We are going to make sure the law was followed" is that authority. He can dress it up with all the flowery "no political debanking" rhetoric he wants, but if there's no actual law against refusing to hold accounts for the KKK, there's nothing for enforcement to do, and that's that.
(Apart from that, increased scrutiny could of course uncover other kinds of lawbreaking. When we're talking banks? Not against that.)
unbanking is a very widespread issue that affect actual minorities all over the country. this text ignores that, then play the victim saying unbanking is affecting rich white people who want to obviously avoid taxes and launder money via illegal tokens, but are being denied because they are trump supporters. that's most definitely not unbanking, that's the system working as intended and the "because" part is obviously false. but now everything is upsidedown.
this is not about the kkk having bank accounts (they already do!). this will be another technicalities to be abused on the coming cryptocurrency fleece to end all cryptocurrency fleeces.
Andreessen/Horowitz talk about it here
But the courts were a check. The precedent the current administration has set is for summary debarking in the future in exchange for e.g. not being investigated for securities fraud.
Because most people aren’t libertarians and hate Wall Street. It’s a layup. And there’s nothing magic about “protected class reasons.” With respect to private entities, it’s just Congress’s Commerce Clause power. Congress can expand the categories to include whatever it wants.
> Why should Democrats want to make sure that colleges can ignore non-white and non-Asian applicants
Democrats should want to enforce SFFA, which bans racial preferences, whether those policies favor whites, asians, or anyone else. Not only because it’s the law of the land, and necessary to maintain a functioning multi-ethnic society, but because it’s popular: https://thehill.com/homenews/education/4411246-majority-supp...
Using racial preferences to create a unified “people of color” political identity loyal to Democrats has failed and it’s time to declare it dead: https://www.latimes.com/delos/story/2025-07-02/pew-research-...
Well, don’t call Insurrection then!!
Earlier:
White House Preps Order to Punish Banks That Discriminate Against Conservatives