U.S. regulators are investigating banks for alleged account closures based on political or religious beliefs, following Trump’s executive order. The FDIC is requesting data from large banks, the OCC has contacted the nine largest banks it oversees, and the SBA is directing over 5,000 banks to identify and re-engage with customers cut off for political reasons by Dec. 5. Trump’s order aims to penalize banks found to discriminate, with fines and disciplinary actions. JPMorgan Chase, Capital One, and Bank of America deny discriminating against Trump and his family. Regional and community banks are concerned about compliance challenges.

Read more at Quiver Quantitative: Trump’s Executive Order Sparks Federal Probe Into ‘Debanking