Byrd thanks SBA for taking action on Trump's executive order to stop "debanking"

State Auditor Cindy Byrd Thanks the Small Business Administration For Taking Action Quickly on President Donald J. Trump’s Executive Order to End Debanking, Protecting Small

 Businesses and American Workers

 

(Sept. 10th, Oklahoma City) On August 7, Oklahoma State Auditor & Inspector Cindy Byrd was honored to join 31 leading state financial officers from across the country in supporting President Donald J. Trump’s decisive action of an Executive Order to stop the practice of “debanking”—a standard which caused American law-abiding businesses and individuals to be denied access to essential financial services based on political or ideological grounds. 

Not only did the President act quickly on a needed policy change, but it was announced at the end of August that the Small Business Administration (SBA) is swiftly implementing the provisions that key state financial leaders had noted was causing harm to the America First agenda of promoting American jobs and putting obstacles in the way for American workers to achieve more prosperity. Firearms manufacturers, cryptocurrency firms, and other legal companies should not be forced to operate in uncertain environments which affect their outlook and growth potential. 

The new standard ensures that hard working Americans, entrepreneurs, and legal small businesses will not be punished or excluded from financial opportunities because of their beliefs or values. With the SBA enforcing these protections, financial officers at both state and federal level are again sending a clear message that we stand together for free enterprise, strengthening confidence in the marketplace, and putting American workers and companies first.

“As a CPA and Auditor with almost 30 years of experience auditing every level of state government, and a member of multiple state boards and commissions which monitor and guide the investment of Oklahoma funds toward the best rate of return, we are ensuring that there is a level playing field, that numbers - not ideology -matter, and Americans are once again more free  to seek and achieve prosperity. The President listened, he acted, and now the SBA is making sure that financial fairness is more than just words—it’s policy. Small businesses and workers across America will have the freedom to grow without fear of political discrimination.”

The Small Business Administration’s role in implementation will provide oversight, accountability, and fairness, ensuring that government-backed programs and financial services remain open to all who follow the law. This order puts an end to discrimination in financial access, reinforces trust in our institutions, and protects the backbone of our economy: the American worker and the small businesses they build.