Guaranteeing Fair Banking For All Americans

It shifts bank supervision toward individualized, objective risk assessments and orders reviews of potentially discriminatory account, lending, and payment-processing decisions.

What the order does ​

• Requires federal banking regulators within 180 days to remove “reputation risk” and similar concepts that could enable politicized or unlawful debanking from supervisory materials.
• Directs regulators to consider amending or rescinding regulations that could enable such debanking.
• Requires the Small Business Administration to notify participating lenders and direct them to identify, notify, and make reasonable efforts to reinstate clients improperly denied covered services.
• Orders regulators within 120 days to identify institutions with debanking policies or practices and pursue authorized remedies, including fines, consent decrees, or discipline for legal violations.
• Requires regulators within 180 days to identify unlawful religious debanking and refer unresolved cases to the Attorney General when appropriate.
• Directs the Treasury Secretary within 180 days to develop a government-wide strategy, including possible legislative and regulatory measures.

Who it affects ​

• Banks, savings associations, credit unions, payment processors, and other regulated financial services providers.
• Individuals and businesses denied financial services because of political or religious beliefs or lawful business activities disfavored for political reasons.
• Financial institutions participating in Small Business Administration loan-guarantee programs.
• Federal banking regulators and examiners.