The country’s largest banks, including JPMorgan Chase, Goldman Sachs, Bank of America, Citigroup, Morgan Stanley, and Wells Fargo, are vying for a leading role in a lucrative public offering for Fannie Mae and Freddie Mac. Trump has criticized some Wall Street bosses over “debanking,” leading to increased scrutiny on account closures. Bank regulators are proposing significant rule changes since Dodd-Frank. Crypto industry regulation relief creates competition for banks. Coinbase urges customers to oppose big banks on the issue.

The Trump administration’s focus on debanking has led to potential negotiations and lawsuits for banks. The Office of the Comptroller of the Currency is reviewing debanking activities at large institutions. Smaller banks also received debanking letters. The Small Business Administration directed 5,000 banks to find customers previously cut off for political or debanking reasons. Banks deny discriminating based on political or religious affiliations. Trump claims JPMorgan Chase, Capital One, and Bank of America refused him services.

Read more at Yahoo Finance: Big banks are walking a political tightrope in Trump’s Washington