De-banking, more commonly spelled debanking, also known within the banking industry as de-risking, is the closure of people's or organizations' bank accounts by banks that perceive the account holders to pose a financial, legal, regulatory, or reputational risk to the bank.

Jan 24, 2025 · “Debanking is un-American – every legal business deserves to be treated the same regardless of their political beliefs. Unfortunately, under Operation Chokepoint 2.0, Biden regulators abused their power and forced financial institutions to cut off services to digital asset firms, political figures, and conservative-aligned businesses and ...

1 day ago · February 05, 2025 Scott Shines Light on Debanking of Americans, Pledges Solutions. Washington, D.C. – At today’s Senate Banking Committee hearing focused on debanking, Chairman Tim Scott (R-S.C.) highlighted the importance of access to financial services, citing his own story of obtaining a loan to start his small business.

2 days ago · “I think mid-level executives push debanking of individuals for political causes.” “What needs to be done, consistent with the Act that you have introduced, is simply that there's more transparency and there's more notice when these kinds of [regulatory] decisions are made,” responded Stephen Gannon, a partner at Davis Wright Tremaine ...

1 day ago · The Senate Banking Committee will hold a hearing on what is commonly referred to as debanking, hearing testimony from subject matter experts and business owners who claim they were unfairly denied ...

https://crsreports.congress.gov January 29, 2025 De-Banking/De-Risking: Issues for the 119th Congress Banks are an important source of financial services in the

2 days ago · A major focus was on alleged debanking of customers engaged in cryptocurrency activities, with the FDIC releasing documents before the hearing reportedly showing that regulators discouraged banks from providing services to the sector. One of the witnesses at the hearing — Nathan McCauley, co-founder and CEO of crypto platform Anchorage ...