The news: President Donald Trump signed an executive order against alleged “debanking,” claiming that JPMorgan Chase and Bank of America discriminated against him by rejecting his company's deposits, per The New York Times. 

Our first take: The executive order will reportedly direct bank regulators to investigate potential violations of the Equal Credit Opportunity Act and other antitrust and consumer financial protection laws. The order also criticized banks for their role in January 6 Capitol riot investigations, per The Independent. 

This fusion of personal grievance and public policy will likely shape some financial institutions’ risk management practices to avoid more personal vendetta against companies the president perceives as discriminatory.

This is our immediate perspective. We’re actively developing this story throughout the day with more research and data from the EMARKETER database. Our in-depth analysis will be included in our client-only Briefings. Non-clients can click here to get a demo of our full platform and coverage.

Check out other EMARKETER content related to this story: 

• Banks have a chance to build trust with US consumers and businesses facing tariff-related expenses
• The Trump administration tried to fire 80% of CFPB employees
• Confused about tariffs, customers need stability from their banks