TechFlow, August 5 — According to The Wall Street Journal, the White House is preparing to increase pressure on major banks over alleged discrimination against conservative individuals and cryptocurrency companies. A draft executive order obtained by The Wall Street Journal would threaten banks with fines if they refuse service to customers for political reasons.
The draft executive order directs banking regulators to investigate whether financial institutions have violated the Equal Credit Opportunity Act, antitrust laws, or consumer financial protection laws.
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