Re:Trump signs executive order going after debanking
by tencentshill on Friday August 08, 2025 @01:19PM
(#44839447)
It's because they didn't want to work with Trump, it's not about anyone else.
Re:Trump signs executive order going after debanking
by bediger4000 on Friday August 08, 2025 @10:55PM
(#44843702)
That raises another question. Does this EO mean that banks have to work with someone who's obviously criming? We've got "know your customer" laws, and laws forbidding "structured" withdrawals that are meant to cripple criminal payments. How do we square up banks obeying various laws, and banks obeying an Executive Order that says "nobody drop any customers I like"? Damned if you do, damned if you don't, it looks like.
Also, maybe 20 years ago, about 15% of the US public did not have a bank account at all, for various reasons, but including people who were too big of a PITA for banks to deal with. Will this sort of EO force businesses to work with people they don't want to?