The administration of President Donald Trump intends to tighten control over the largest banks in the United States and punish those that, in the opinion of the White House, close clients' accounts for political or ideological reasons. In particular, penalties may be faced by credit organizations that refuse to service crypto projects.
According to a draft decree reviewed by The Wall Street Journal, regulators will be instructed to check whether banks have violated the Equal Credit Opportunity Act (ECOA), antitrust laws, or consumer protection regulations. Violators can expect fines, settlements, and other disciplinary measures.
