Barack Obama and Joe Biden turned America’s banking system into a political weapon.
For years, conservatives suspected they were being targeted by financial institutions for their beliefs.
And now bank executives just exposed one ugly truth about Obama and Biden that left conservatives seeing red.
Banking insiders break their silence on political pressure
Two senior executives at major U.S. banks have come forward with explosive testimony about how the Obama and Biden administrations weaponized federal banking regulations to target conservatives.
Speaking anonymously to Fox News Digital – because they fear retaliation for telling the truth – these banking insiders revealed the systematic pressure they faced to deny services to individuals and businesses for political reasons.
"Those pressures were very, very real," one senior banking executive told Fox News Digital. "When your regulator gives you a suggestion, it’s not a suggestion, it’s an order. The political stuff is very real, those pressures are real."
The executives detailed how federal regulators exploited ambiguous laws to pursue Barack Obama and Joe Biden’s political objectives through a practice called "debanking" – where banks close accounts or deny services, often without explanation.
Under Obama’s "Operation Choke Point," a Department of Justice task force worked with bank regulators to label entire industries as "high risk," including firearms sales and other businesses that didn’t align with the administration’s radical agenda.
Trump ended this corrupt program in 2017, but Biden quietly rebooted it as "Operation Choke Point 2.0" to target cryptocurrency firms and other disfavored businesses.
The real victims of financial discrimination
The scope of this political persecution was staggering.
President Trump himself was targeted, with banks allegedly refusing more than $1 billion in his deposits from institutions including JPMorgan Chase and Bank of America.
Even more disturbing, First Lady Melania Trump revealed in her memoir that she and her son Barron were debanked simply for being part of the Trump family.
"I was shocked and dismayed to learn that my long‑time bank decided to terminate my account and deny my son the opportunity to open a new one," Melania wrote. "This decision appeared to be rooted in political discrimination, raising serious concerns about civil rights violations."
Former Republican Senator Sam Brownback’s nonprofit, the National Committee for Religious Freedom, was also targeted by JPMorgan Chase in 2022.
The bank initially denied any political motivation, but quietly updated their code of conduct in 2025 to explicitly state they don’t discriminate based on political views – which tells you everything you need to know about what they were doing before.
How the scheme actually worked
Banking executives revealed the sophisticated way Obama and Biden operatives pressured financial institutions to do their political dirty work.
Regulators didn’t need to explicitly order banks to target specific individuals or businesses – the administration’s preferences were well known, and banks understood they were expected to comply or face regulatory consequences.
Banks used the vague criteria of "reputational risk" to justify denying services to politically disfavored groups.
One executive explained how even negative news coverage – often coordinated by the same Democrat operatives – became grounds for debanking conservatives.
"It’s all kind of set up, it’s like somebody set the table, and it all ends up focusing on Republicans and conservatives," the banking executive said.
Banks were also pressured to file more "suspicious activity reports" about conservative customers and to debank more clients overall.
Rather than risk regulatory retaliation, many banks preemptively refused to take on clients they thought might attract government attention.
"It’s better for us to just not take on certain business if we suspect an examiner can come in and say six months ago you shouldn’t have taken this client," one bank official told Fox News Digital.
Trump’s executive order changes everything
President Trump struck back at this corrupt system by signing the "Guaranteeing Fair Banking for All Americans" executive order, which prohibits banks from denying services based on political views or other beliefs.
The order specifically bans the use of "reputational risk" as a criterion for politicized debanking – closing the loophole that Obama and Biden operatives used to target conservatives.
Tim Schwarzenberger of Inspire Investing, whose firm has fought debanking, called Trump’s action "a breakthrough moment."
Major banks are already responding to the new political reality.
Bank of America, CitiGroup, PNC Bank, and JPMorgan Chase have all issued statements committing to fair treatment regardless of political or religious views.
"We don’t close accounts for political reasons, and we agree with President Trump that regulatory change is desperately needed," a JPMorgan representative told Fox News Digital.
What this really means for America
So here’s what just happened – and why it matters more than most people realize.
For nearly two decades, Democrat administrations have systematically weaponized the federal government against their political opponents.
They’ve used the IRS to target Tea Party groups, the FBI to spy on political campaigns, and now we know they turned banks into enforcers of their radical agenda.
This wasn’t some isolated abuse of power – this was a coordinated strategy to financially strangle anyone who opposed their vision for America.
Think about that for a second. They literally tried to cut conservatives off from the banking system for the crime of supporting traditional American values.
The beauty of having these banking executives come forward is that it destroys the Left’s ability to dismiss conservative complaints as "conspiracy theories."
These are insider witnesses who know exactly how the pressure campaign worked because they lived through it.
And you know what the best part is? Trump didn’t just issue some meaningless executive order – he’s actually forcing systemic change.
Banks are scrambling to update their policies because they know the days of political targeting are over.
The era of Obama and Biden using Wall Street as a weapon against patriots is finished.
¹ David Spector, "Bank executives blow the whistle on how Obama, Biden admins pressured them to debank conservatives," Fox Business, August 19, 2025.
² Ibid.
³ Ibid.
⁴ Ibid.
