President Trump signed Thursday an executive order taking aim at alleged discrimination against conservatives by large banks, directing regulators to investigate and punish financial institutions for “politicized or unlawful debanking.”

Conservatives have long complained that they have been unfairly treated by the banking system, a cause taken up by Trump in his second term.

“Financial institutions have engaged in unacceptable practices to restrict law-abiding individuals' and businesses' access to financial services on the basis of political or religious beliefs or lawful business activities,” Thursday’s order reads.

“Such practices are incompatible with a free society and the principle that the provision of banking services........

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