WASHINGTON — In case you missed it, Kelly Loeffler, Administrator of the U.S. Small Business Administration (SBA), joined Kudlow with guest host David Asman yesterday to discuss the agency’s effort to end politicized and unlawful debanking practices and enforce President Trump’s recent executive order guaranteeing fair access to financial services for all Americans.
During the exclusive interview, Administrator Loeffler announced the SBA issued letters to its network of 5,000 lenders nationwide, directing them to stop discriminatory banking practices and reinstate otherwise eligible borrowers who were denied services because of their political, religious, or ideological beliefs.
She underscored how the financial system was weaponized against law-abiding Americans during the Obama and Biden Administrations – when federal regulators pressured banks to freeze or close accounts, deny loans, or refuse services to ideological opponents.
Click HERE to watch the full interview or view excerpts below:
“President Trump’s Executive Order Guaranteeing Fair Banking for All Americans does just what it says. Look, for the last 15 years since the Obama Administration – your viewers might remember Operation Choke Point, when thousands of Americans law-abiding Americans were debanked. So with President Trump's direction, the SBA today has sent a letter to our network of five thousand lenders across this country demanding that they stop debanking individuals and to document practices where they have done that – and if so, reinstate deserving borrowers and those seeking financial services.”
“Unfortunately, this has disproportionately impacted conservatives. President Trump and his family were debanked, I was debanked, and it happened to thousands of Americans. We’re going to get to the bottom of it and we're going to end it.”
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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.