In a minority press release following a U.S. Senate Committee on Banking, Housing and Urban Affairs hearing on debanking, Ranking Member Elizabeth Warren urged President Trump to lift the halt on Consumer Financial Protection Bureau (CFPB) rulemaking and enforcement activity so the agency can finalise and enforce existing safeguards intended to curb unfair account closures. Warren published an analysis of the CFPB consumer complaints database identifying 11,955 debanking-related complaints over the past three years, with more than half tied to four large banks: Bank of America, JPMorgan Chase, Wells Fargo and Citigroup. The complaints commonly reported account closures or failed account openings with no warning, no explanation and no opportunity to dispute or appeal, and Warren linked the issue to drivers including overdraft fee practices and discrimination based on religious or political beliefs. The release also highlighted testimony from Anchorage Digital CEO Nathan McCauley that he lost banking access, was turned down by dozens of banks and had no appeals path, alongside calls for more transparency via complaint data and for Treasury, the Federal Reserve, the Federal Deposit Insurance Corporation and other regulators to issue clearer anti-money laundering rules and guidance to reduce incentives for debanking as a risk-management tool. Warren asked that her supplemental memo on the complaint analysis and her letter to President Trump be entered into the Committee record.

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