On August 5, news reported by the Wall Street Journal indicated that the White House is preparing to increase pressure on large banks in response to allegations of discrimination against conservative individuals and Crypto Assets companies. They plan to threaten fines against lending institutions that terminate customer services for political reasons through an executive order. The draft of this executive order, seen by the media, instructs banking regulators to investigate whether any Financial Institution may have violated the Equal Credit Opportunity Act, antitrust laws, or the Consumer Financial Protection Act.
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On August 5, news reported by the Wall Street Journal indicated that the White House is preparing to increase pressure on large banks in response to allegations of discrimination against conservative individuals and Crypto Assets companies. They plan to threaten fines against lending institutions that terminate customer services for political reasons through an executive order. The draft of this executive order, seen by the media, instructs banking regulators to investigate whether any Financial Institution may have violated the Equal Credit Opportunity Act, antitrust laws, or the Consumer Financial Protection Act.