🔴 WATCH THE FULL EPISODE: https://ept.ms/4bmYV0qShow more Debanking is real, and the Trump administration is tackling it head-on, says SBA chief Kelly Loeffler. She has sent over 5,000 letters to lenders ordering an end to politicized debanking practices and directing them to reinstate qualified customers who were denied services. Show less
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| So I know one of the things that you're interested in is that over the last, I guess it's four years, five years, I'm not sure the exact timeframe, but a number of these small businesses that we're building like you were describing were debanked for no ostensibly good reason. | |
| And this is something you're looking into seriously. | |
| Can you give me a, I don't know, like a progress report or something like this? | |
| Absolutely. | |
| So thanks to President Trump's leadership and sadly his own personal experience and that of his family, we understand that debanking is a real thing in this country. | |
| And because of his leadership, we now have the executive order that the SBA was charged with being part of the regulatory group, the OCC, the FDIC, and the Fed to investigate debanking. | |
| And so we led the charge in sending out 5,000 letters. | |
| That's our network of banks. | |
| You think about the SBA, we're really like the private sector side of the government. | |
| We have the connection to the small businesses, to the banks. | |
| So we were honored to lead that charge. | |
| But we know that under Obama, it really started with Operation Choke Point 1.0, where they started defunding, debanking disfavored people. | |
| And they even went as far under the Biden administration to put it into the regulatory apparatus so that you'd be penalized as a regulated entity if you provided banking services to everything from Christians to pro-life to 2A, | |
| you name it, it could be considered a reputational risk for which the OCC or the Fed might downgrade you and require more capital, putting real costs into the banking system and discouraging customers from being banked. | |
| It's completely unfair. | |
| President Trump, it happened to him and his family. | |
| It's happened to me on my political campaign. | |
| And so I know firsthand this is going on. |