401k debanking refers to two recent notable developments tied to President Donald Trump's executive orders aimed at reshaping aspects of banking and retirement investments in the U.S.:

1. 401(k) Changes: A 2025 executive order expands the types of assets allowed in 401(k) retirement plans. It allows the inclusion of alternative, higher-risk investments such as private equity, real estate, commodities, and certain digital assets (including some crypto-related investment vehicles). The goal is to give American retirement savers access to investment opportunities traditionally limited to wealthy or institutional investors. This could potentially diversify portfolios and boost returns, but critics warn of risks like high fees, liquidity issues, and increased litigation risks for plan administrators.
2. Debanking: The order also addresses the practice known as "debanking," where banks close or refuse accounts of individuals or organizations they consider high-risk due to financial, legal, regulatory, reputational, or even political reasons. The executive order seeks to eliminate the use of "reputational risk" as a justification for denying banking services, particularly when motivated by political or religious biases. It directs banking regulators to review past account closures for potential violations, and to prevent future politically or religiously motivated debanking.

In summary, "401k debanking" involves these interconnected issues: expanding 401(k) investment options to include alternative and digital assets, while simultaneously cracking down on banks that close accounts for political or ideological reasons, with protections to ensure fairer access to banking services. The "debanking" protections aim to stop banks from excluding people, including conservatives and crypto investors, unfairly from financial services.