On Thursday, Governor Kay Ivey signed an executive order directing the Superintendent of the Alabama State Banking Department to implement policies discouraging banks chartered with the state from denying service to individuals “due to their beliefs, affiliations, political views, or engagement in lawful activity.”
Titled “Promoting Fair and Lawful Access to Financial Services,” Executive Order 743 was inspired by a 2025 executive order issued by President Donald Trump.
Part of the section of Trump’s executive order meant to explain the purpose of the 2025 change references banks cooperating with the federal government’s investigations into individuals connecting with the January 6 riot:
“Some financial institutions participated in Government-directed surveillance programs targeting persons participating in activities and causes commonly associated with conservatism and the political right following the events that occurred at or near the United States Capitol on January 6, 2021.”
The president is currently pursuing a lawsuit against JPMorgan over allegedly “debanking” him by closing his accounts with the bank following the events of January 6. A similar lawsuit against Capital One filed by the president was dismissed by a judge earlier this month due to the complaint being “deficient.”
A press release from the governor’s office describing Executive Order 743 does not mention any specific action by state banks that may have motivated the executive order. Instead, it primarily focuses on Alabamians’ right to access financial services.
“Alabamians count on being able to utilize banking services for their own financial security and prosperity, and such access underpins the stability of our economy,” the governor wrote in a public statement.
“State-charted banking institutions must not restrict the use of financial services based on customers’ beliefs, political views or involvement in legal activities,” Ivey said. “Accordingly, I sign this executive order to ensure that our residents’ lawful right to financial services is protected.”
Mike Hill, the superintendent of the Alabama State Banking Department and therefore the individual responsible for implementing the executive order, said the change “closely aligns with the long-held position of the State Banking Department that no person shall be denied access to financial services solely due to their beliefs, affiliations, political views or engagement in lawful activity.”
“While I believe that our state-chartered banks have provided fair and lawful access to their services, all Alabama, state-chartered banking institutions should follow this policy effective immediately,” Hill added.
In response to APR’s questions about whether any specific bank decisions prompted the executive order, if the governor’s office spoke with any banks prior to the issuing of the executive order, and why the change took the form of an executive order instead of a piece of legislation, a spokesperson for Governor Ivey referred back to the statement from Mike Hill included in the press release.
