Good morning. Banks are now in the crosshairs. Many MAGA Republicans, Christian conservatives and cryptocurrency libertarians say America’s banks are shutting down the personal and business accounts of people whose politics they don’t agree with, or are unfairly refusing to work with certain industries such as gun manufacturers or coal companies.

President Trump, who accused banks of shunning him after he left office in 2021, is now threatening fines and other punitive actions for the practice.

• Executive order: In August, the president issued an executive order demanding an investigation into what the White House has termed “politicized or unlawful debanking” with penalties for banks that have unfairly cut off customers for political or religious reasons.
   
• Conservative backlash: The crackdown on banks is part of a wider backlash against what conservatives believe is a broad bias against their beliefs in society and businesses. The Trump administration has recently targeted universities, law firms and the media on similar grounds.
   
• Banks’ response: Banks contend they don’t close accounts for political reasons. But they say they have wide discretion to open or close customers’ accounts and can avoid customers who might cost them because of special monitoring for financial crimes or potential litigation. They also say regulators pressure them to close potentially risky accounts and don’t let them tell customers why they’ve done so, to avoid disrupting possible criminal investigations.

FTC sues Ticketmaster alleging illegal ticket resale tactics.

The Federal Trade Commission and seven states sued Ticketmaster and its parent company Live Nation, alleging the ticketing giant engaged in illegal ticket resale tactics that cost consumers billions of dollars.

Ticketmaster coordinated with brokers to collect millions of dollars worth of tickets and then sell those tickets at a significant markup in the secondary market, according to the lawsuit filed Thursday.

Justice Department won’t prosecute in BofA market manipulation case.

The Justice Department declined to prosecute Bank of America’s securities unit over allegations that two of its traders spoofed orders, Risk Journal reports.

The Justice Department said it wouldn’t bring charges, in part because of Bank of America’s timely and voluntary self-disclosure of the misconduct and its cooperation with the investigation. The bank also fired the junior trader involved with the spoofing and conducted an internal review of the trading of all employees on its Treasurys desk.

• California wants to halt the oil industry exodus after years of climate focus. Gov. Gavin Newsom asked state regulators to work closely with oil refiners to avoid price spikes.
   
• New York’s top financial regulator is recommending banks use blockchain analytics in their compliance programs for cryptocurrency-related activities.
   
• The U.K.’s antitrust regulator is open for comments on the acquisition of bread maker Hovis by Associated British Foods, asking interested parties to share their views on whether the deal could affect competition in the country.
   
• The Trump administration’s clampdown on solar and wind energy has upended those industries, but some lawmakers on both sides of the aisle still see promise in a range of renewable-energy sources.
   
• A U.S. federal bank watchdog will split up its oversight office so that smaller and regional banks are no longer supervised directly alongside giant institutions, in a bid to ease regulatory burdens.
   
• Amazon.com’s finance teams are using generative AI in new ways to more efficiently comply with complex tax regulations, help evaluate the financial impact of new products and better analyze changes in revenue.

A cyberattack crippled Range Rover production. The reboot is proving tough.

Hundreds of high-end SUVs usually roll off Jaguar Land Rover’s production lines every day. This month, they have fallen silent.

A cyberattack discovered late last month prompted the Range Rover maker to power down its operations, a response that could cost the company tens of millions of dollars and threatens jobs across its supply chain.

The British company is now racing to restart its systems safely with the help of top cybersecurity experts flown in from around the globe. It has said the process “will take time” and extended the shutdown—previously expected to end Wednesday—to Sept. 24.

• Hundreds of thousands of protesters poured into the streets across France on Thursday, piling pressure on President Emmanuel Macron and his newly appointed prime minister to abandon planned austerity measures. The turmoil is a measure of how France has become a tinder box of socioeconomic tension.
   
• Saudi Arabia relied on the U.S. for military protection for decades. Now it is looking elsewhere.
   
• Trump’s trade war split Canada and Mexico. Now they want a united front.

• The Trump administration is putting the weight of the federal government behind a crackdown on political speech it deems objectionable in the aftermath of the fatal shooting of conservative activist Charlie Kirk.
   
• Tyler and Cameron Winklevoss are outspoken supporters of President Trump. But they have it out for one of his nominees.
   
• Microsoft said it is in the final stages of construction on the $3.3 billion project in Wisconsin it is calling the most advanced AI data center in the world.
   
• The Trump administration asked the Supreme Court on Thursday to let it remove Federal Reserve governor Lisa Cook from the central bank’s board while a lawsuit challenging the president’s effort to fire her proceeds.

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