The American Bankers Association, Bank Policy Institute, Consumer Bankers Association and Financial Services Forum issued a statement today responding to President Donald Trump’s Executive Order to promote access to financial services in America.
“Today’s Executive Order helps ensure all consumers and businesses are treated fairly, a goal the nation’s banks share with the Administration. It’s in banks’ best interest to take deposits, lend to and support as many customers as possible. Unfortunately, regulatory overreach, supervisory discretion and a maze of obscure rules have stood in the way as the E.O. makes clear. We thank the Administration for its efforts to protect access to banking and rein in runaway regulations and look forward to working with the White House, Congress and the agencies to create a national standard that advances these goals.”
Additional Background:
Today’s executive order aligns with the spirit of several ongoing efforts on Capitol Hill and among the financial institution regulatory agencies to address bank account access concerns driven by regulatory and supervisory overreach. A sample of those efforts includes:
- The FIRM Act. Sponsored by Senate Banking Committee Chairman Tim Scott (R-S.C.) in the Senate and Reps. Andy Barr (R-KY) and Ritchie Torres (D-N.Y.) in the House, would help refocus supervision on material risks and objective metrics by prohibiting the prudential banking agencies from considering reputational risk in supervisory actions.
- Elimination of Reputational Risk in Exams. The Office of the Comptroller of the Currency (March 2025) and Federal Reserve (June 2025) announced they would eliminate reputational risk as part of the bank examination process. The FDIC has also signaled that it plans to move forward with a rulemaking taking similar action (April 2025).
- The FAIR Exams Act. Sponsored by Chairman French Hill (R-AR), seeks to establish a fair process for banks to appeal supervisory decisions, require regulators to complete examinations in a timely manner and create an independent office to apply much-needed accountability to supervision.
- The HUMPS Act. Sponsored by Rep. Scott Fitzgerald (R-WI), would increase transparency in financial institution supervision and work toward reforming the subjective CAMELS rating system.
- The SAFE Guidance Act. Sponsored by Rep. Dan Meuser (R-PA), would ensure transparency and limit abuse of regulatory “guidance” by requiring financial agencies to include a clear disclaimer on the first page of any guidance document. This disclaimer must state that such guidance does not carry the force of law and that noncompliance does not constitute a legal violation.
Fair Access Principles:
As policymakers work to implement the President’s Executive Order, they should consider these principles to promote and preserve risk-based decision-making. Importantly, federal requirements must broadly and expressly preempt any non-federal fair access or account closure laws to avoid inconsistent requirements impacting customers across all 50 states.
Learn More
- Forum Statement on Federal Reserve’s Removal of Reputation Risk – 6/23/25
- ABA Applauds Federal Reserve Announcement on Reputational Risk – 6/23/25
- Forum Applauds House Committee Passage of Measures to Improve Bank Supervision – 5/21/25
- BPI Statement on House Financial Services Committee Markup – 5/20/25
- Financial Services Forum Commends Introduction of the Bipartisan Financial Integrity and Regulation Management Act – 4/9/25
- ABA Applauds OCC Announcement on Reputation Risk – 3/20/25
- BPI Response to OCC’s Decision to Cease Examinations for Reputation Risk – 3/20/25
- Forum Statement on OCC’s Removal of Reputation Risk – 3/20/25
- ABA Statement on Senate Banking Committee Markup – 3/13/25
- Forum Applauds Senate Banking Committee Passage of Financial Integrity and Regulation Management Act – 3/13/25
- Financial Services Forum Commends Chairman Scott for Introducing the Financial Integrity and Regulation Management Act – 3/6/25
- BPI Statement on President Trump’s Remarks on ‘Debanking’ – 1/23/25
About the American Bankers Association
The American Bankers Association is the voice of the nation’s $24.5 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19.5 trillion in deposits and extend $12.8 trillion in loans.
About the Bank Policy Institute
The Bank Policy Institute is a nonpartisan public policy, research and advocacy group that represents universal banks, regional banks and the major foreign banks doing business in the United States. The Institute produces academic research and analysis on regulatory and monetary policy topics, analyzes and comments on proposed regulations, and represents the financial services industry with respect to cybersecurity, fraud, and other information security issues.
About Consumer Bankers Association
The Consumer Bankers Association represents America’s leading retail banks. We promote policies to create a stronger industry and economy. Established in 1919, CBA’s corporate member institutions account for 1.7 million jobs in America, extend roughly $4 trillion in consumer loans and provide $275 billion in small business loans annually. Follow us on X @consumerbankers.
About the Financial Services Forum
The Financial Services Forum is an economic policy and advocacy organization whose members are the eight largest and most diversified financial institutions headquartered in the United States. Forum member institutions are a leading source of lending and investment in the United States and serve millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, financial inclusion, deep and liquid capital markets, a competitive global marketplace, and a sound financial system.