“Debanking” has become an increasingly popular talking point for Republicans in recent weeks, as they take aim at Biden-era regulators who they accuse of boxing conservatives and cryptocurrency firms out of the financial system.

Despite its newfound traction, debanking isn’t an entirely new issue, with Republicans airing grievances over the issue since the Obama administration.

Here’s what to know about debanking and the latest fight:

What is debanking?

Debanking is the closure of bank accounts that financial institutions consider risky, often with little notice or explanation.

Concerns about debanking first arose during the Obama administration with “Operation Choke Point” — a controversial Justice Department initiative that discouraged banks from working with certain “high-risk” businesses, such as payday lenders and firearm retailers. The Justice Department officially ended the program in 2017.

With the rise of digital assets in recent years, numerous individuals and firms associated with the cryptocurrency industry say they have been debanked — a trend they have labeled “Operation Choke Point 2.0.”

These concerns were amplified in November, when venture capitalist Marc Andreessen asserted on “The Joe Rogan Experience” that he knew 30 tech founders who had been debanked.

The issue appears to have resonated with President Trump, who tore into Bank of America CEO Brian Moynihan over debanking allegations at the World Economic Forum last month. The president accused Bank of America and other financial institutions of refusing to do business with conservatives.

“I don’t know if the regulators mandated that because of Biden or what,” Trump said. “But you and [JPMorgan Chase CEO] Jamie [Dimon] and everybody, I hope you’re going to open your banks to conservatives, because what you’re doing is wrong.”

Dimon had previously weighed........

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