State Treasurer Larry Pack today released the following statement after the signing of President Donald Trump’s Executive Order prohibiting “political debanking.” Treasurer Pack joined 32 other state financial officers from around the country in supporting the order. 

“Over the last several years, many of our largest financial institutions have used their positions to advance social and political agendas that fall outside the scope of materiality and positive financial return. This is inherently against the American way of life, and we thank President Donald Trump for taking this bold step in preventing these institutions from targeting American citizens, businesses and organizations they may disagree with. At the end of the day, financial institutions should be focused on returns for their investors, not pushing political agendas,” Treasurer Pack said.

“President Trump’s EO attempts to end discriminatory debanking and restore fairness in our financial system. The order directly confronts this abuse of regulatory authority by reaffirming that banks must evaluate customers based on objective financial criteria, not political or religious views. The President’s leadership marks a crucial step toward restoring viewpoint neutrality and putting an end to unlawful discrimination in our financial sector.”

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