NEW YORK (AP) — President Donald Trump has ordered an investigation into whether banks have discriminated against conservatives and industries like gun manufacturers and cryptocurrency companies. This executive order addresses “debanking,” where banks close accounts or refuse business with certain industries. Trump accuses banks like JPMorgan and Bank of America of targeting him and his allies, something both bansk have denied. The order directs federal regulators to ensure banks don’t discriminate based on political or religious beliefs and to refer cases to the Department of Justice. This could lead to civil or criminal investigations. The banking industry argues it has the right to choose business partners, citing risk concerns.
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