debank

present singular third person debanks · participle present debanking · participle past debanked · past debanked · alternative de-bank

1. transitivebankingTo deprive a person or organization of banking services, especially for political reasons.First known use 2020s

   Ms Juric said as well as debanking her business, banks had also debanked her personal accounts and the accounts of people she was related to or lived with.

   2021 September 8, Sarah Danckert, “Bitcoin Babe refused by 91 banks, put on terrorism watchlist, ‘bullied’ by Austrac”, in The Sydney Morning Herald

   3 more examples

   Both of our organizations have had recent run-ins with debanking. The National Committee for Religious Freedom (NCRF)—a nonprofit advocacy group that exists to defend the right of everyone in America to live out their faith freely—opened a JPMorgan Chase checking account last April. A few weeks later, the bank shut down the account without explanation.

   2023 March 15, Sam Brownback, Jeremy Tedesco, “Stop the Troubling Trend of Politically Motivated Debanking”, in Newsweek

   However, recent regulatory announcements – including directives from the U.S. Federal Reserve and executive branch designed to debank crypto firms, a pending lawsuit against the largest and most trustworthy U.S. exchange, Coinbase, and increasingly hostile rhetoric from Congress – are far from appropriate.

   2023 March 26, Keiko Yoshino, “Where the U.S. Government Went Wrong in Regulating Crypto”, in Yahoo Finance

   It might come as some small comfort to Nigel Farage to discover that it’s not just those on his side of the Brexit debate who have fallen victim to potential ‘debanking’.

   2023 July 28, Steerpike, “Has Gina Miller also fallen victim to ‘debanking’?”, in The Spectator

   Synonyms: unbank

2. ambitransitivebankingTo cease or cause to stop operating as a bank.First known use 1980s

   After some years in which ING Group received dispensation from the US government it will now start to ‘debank’ (giving back its banking licence) its business in the US.

   1997, Simon Sijbrands, “The Internationalisation of Dutch Banks: New Beginning and Future Developments”, in Jack Revell, editor, The Recent Evolution of Financial Systems, →ISBN, page 261

   2 more examples

   Oil Company of Texas [was] a company with which the Board had been feuding for two years over its efforts to “debank” its subsidiary bank by purporting to abandon demand deposit-taking.

   1985, John D. Hawke, Jr., Commentaries on Banking Regulation, →ISBN, page 394

   As part of the transaction, [Bayerische Vereinsbank] planned to “debank,” that is end its backing operations in the U.S. […] It appeared, however, that various aspects of debanking would take a substantial period of time, for example liquidating its positions on letters of credit or guarantees issued on industrial revenue bonds.

   1998, Hal S. Scott, Philip A. Wellons, International Finance: Transactions, Policy, and Regulation, →ISBN, page 179

   Synonyms: unbank