Federal officials testified at a Senate Banking Committee hearing on regulating the banking system. Topics included allegations that the Biden administration debanked individuals based on politics. "Debanking" is the closure of people's or organizations' bank accounts by banks that perceive the account holders to pose a financial, legal, regulatory, or reputational risk to the bank. Other topics included alleged ties between the United Arab Emirates and the Trump administration-backed World Liberty cryptocurrency bank, and the Trump administration considering collecting citizenship information from new and existing customers.