(Reuters) -The White House is preparing an executive order that would fine banks for dropping customers for political reasons, directing regulators to investigate potential violations of credit, antitrust, and consumer protection laws by financial institutions, the Wall Street Journal reported on Monday citing people familiar with the matter.

U.S. President Donald Trump on Tuesday said he believes that banks discriminate against him and his supporters, adding that Bank of America and JPMorgan Chase had previously refused to accept his deposits.