‘Reputational risk’: Report reveals Joe Biden pressured corporations to debank Donald Trump
By Bob Unruh
Sent regulators to harass, investigate, fine institutions until they complied
A new report reveals that Joe Biden, while in the White House, pressured a dozen corporations to debank Donald Trump, sending regulators to harass and investigate banks, even fining them, until they cooperated.
And a report in the Washington Stand reveals they used the concept of “reputational risk” in their threats against the banks.
The report comes on the heels of Trump actually signing an executive order that intends to do away with that option.
His “Guaranteeing Fair Banking for All Americans” was just announced.
The report explained that the New York Post documented how Biden pushed for “at least 12 financial institutions to either refuse to do business with Trump or close accounts that he already had.”
Trump earlier identified two of those who gave in to Biden’s pressure as JPMorganChase and Bank of America.
The Stand explained, “The Biden administration used ‘reputational risk’ to send regulators to pressure major banks, harassing, investigating, and even fining banks until they complied. The ‘reputational risk’ rule was originally designed to be used against criminals, like mass fraudsters or notorious sex trafficker and self-styled financier Jeffrey Epstein, but the Biden administration cited the events of January 6, 2021, to turn ‘reputational risk’ against Trump.”
Trump’s new order now gives banks and others 120 days to rescind policies discriminating against clients on the basis of political or religious views. And they’ve been ordered to track down those they already punished, and offer them services.
The Post said the Biden campaign to harm Trump’s banking abilities came in the months after Trump left the White House in 2021.