Big banks said they agree with President Donald Trump that financial regulations need an overhaul, even as their stock prices dropped Tuesday after the president confirmed plans to issue an executive order to punish those that he said discriminate against conservatives.

The Trump administration is expected to take additional efforts to crack down on perceived bias against conservatives in the financial system.

President Donald Trump claimed Tuesday that two major banks discriminated against him for political reasons, a tactic he said other conservatives have faced in recent years