Treasury says major US banks let politics shape access to banking services

Summary

The US Treasury said the country’s largest banks let politics influence who received banking services and discriminated on political grounds. Semafor reports that President Donald Trump ordered the inquiry last year after accusing banks of discriminating against him.

Timeline

1. CNBC

   14 Oct 2026, 15:44 UTCSource ↗

   CNBC reports that the Treasury said the largest US banks let politics influence who received banking services.

2. Semafor

   14 Oct 2026, 22:28 UTCSource ↗

   Semafor reports that the Treasury said big banks discriminated on political grounds and that Trump ordered the inquiry last year after accusing banks of discriminating against him.