Ivey signs order on banking access

Governor Kay Ivey on Thursday signed a new Executive Order (EO) aimed at protecting Alabamians’ access to banking services, directing State regulators to ensure financial institutions serve customers without bias tied to beliefs or lawful activity.

The order, Executive Order No. 743, affirms that State-chartered banks must provide services based on lawful conduct, not political views or affiliations.

“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,” Ivey said. “State-charted banking institutions must not restrict the use of financial services based on customers’ beliefs, political views or involvement in legal activities. Accordingly, I sign this executive order to ensure that our residents’ lawful right to financial services is protected.”

The Governor’s action follows a similar move at the federal level. On Aug. 7, 2025, President Donald Trump issued Executive Order No. 14331, Guaranteeing Fair Banking for All Americans, which stated that Americans should not be denied financial services due to protected beliefs or affiliations.

State officials said Alabama’s policy reflects long-standing principles already embedded in State banking law, which requires institutions to serve the needs of local communities and law-abiding citizens.

Under the order, the Alabama Banking Department will issue formal guidance to State-chartered banks outlining expectations for compliance. The directive emphasizes that institutions should continue operating in a “safe, sound and legal” manner while ensuring equal access.

State Banking Superintendent Mike Hill said the policy reinforces existing practice.

“Governor Ivey’s executive order 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,” Hill said.

He added that banks across Alabama are expected to follow the guidance immediately.

The EO comes as access to financial services has drawn increasing national attention, particularly around claims of “debanking” tied to political or social views. While State officials noted that Alabama banks have generally provided fair access, the new directive sets a clear standard moving forward.

By formalizing the policy, the administration aims to ensure consistent treatment for customers and reinforce trust in the State’s financial system.