Banking executives are raising concerns that both the Biden and Obama administrations pressured financial institutions to “debank” conservatives — a term used to describe the practice of cutting off individuals or organizations from access to banking services.

The claims were discussed on Fox & Friends, where FOX Business’ Brian Brenberg explained how debanking works and why it has become a politically charged issue. According to executives, certain conservative groups and figures were unfairly flagged as “high risk,” leading to account closures or restrictions.

Critics argue that debanking can be weaponized for political purposes, effectively silencing individuals or organizations by denying them financial access. Supporters of tighter oversight, however, contend that banks must protect themselves from reputational and regulatory risks.

The accusations come at a time when financial freedom and government overreach are increasingly hot-button issues. While neither administration has formally responded to these specific claims, the debate highlights growing tension between politics, banking, and free speech.