**US Banking Policy Set for Radical Changes**
The US banking system is in for a significant shake-up, according to Georgian Prime Minister Irakli Kobakhidze. In response to comments made by President Donald Trump regarding banks, the PM stated that he believes the approaches established under the previous administration will be radically revised.
These changes are likely to include a reevaluation of the sanctions policy, which has been a cornerstone of the US’s approach to international banking. According to Kobakhidze, this revision is “absolutely logical” given the need for the US to restore credibility to its own banking system and to the international banking system as a whole.
**Trump Takes Aim at Banks**
At the heart of Trump’s efforts is an executive order signed in response to allegations that certain banks have discriminated against conservatives and industries such as gun manufacturers and cryptocurrency companies. This phenomenon, known as “debanking,” occurs when banks close accounts or refuse to do business with individuals or companies due to their political or religious views.
Trump has accused JPMorgan and Bank of America of debanking him and his companies in the past, a claim that both banks have denied. The executive order instructs federal bank regulators to investigate allegations of debanking and refer any cases they find to the Department of Justice within 120 days.
**A New Era for US Banking**
The implications of this move are significant. By targeting what he sees as discriminatory practices by certain banks, Trump is seeking to restore trust in the American banking system and promote a more level playing field for all businesses. Whether or not these efforts will be successful remains to be seen, but one thing is clear: the US banking landscape is set for some radical changes.
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