» Exclusive | New GOP Bill Aims to End ‘Debanking’ of Crypto Companies and Conservatives

The leader of the Senate Banking Committee wants regulators to stop worrying about customers causing reputational damage to banks.

Sen. Tim Scott of South Carolina says that concern is fueling “debanking,” where banks allegedly avoid certain businesses. That issue has gained attention thanks to the advocacy of crypto companies and recent remarks by President Trump, who called out Bank of America and JPMorgan Chase for closing conservatives’ bank accounts.