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Sen. Tim Scott: Senate Banking Committee will hold hearing on "debanking" after Trump remarks
Summary
Senate Banking Committee Chairman Tim Scott said the committee will hold a hearing on alleged "debanking" practices after President Trump publicly challenged bank CEOs. Scott said witnesses will include Old Glory Bank and Anchorage Digital; he blamed both regulators under the Biden administration and bank policies for removing customers.
Senator Tim Scott, chairman of the Senate Banking Committee, said the committee will hold a hearing on so-called "debanking" after President Donald Trump raised the issue with bank executives at the World Economic Forum.
Scott announced the hearing during a television interview, saying it is scheduled for tomorrow and will include testimony from Old Glory Bank and Anchorage Digital. "The politicalization, the weaponization of our banking system should never happen," Scott said, adding he has received "over a thousand calls" from people who say they were cut off by financial institutions.
The senator framed the inquiry as part of his oversight responsibilities and said he first included the topic in an agenda announced in late December. "Do we…
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