Ireland Owens
Republican northern Dakota Senator Kevin Cramer is to introduce herself Bill Tuesday was aimed at prohibiting financial institutions to attack people and industries on an ideological basis.
The Act on candid access to banking would prohibit payment card networks from discrimination against people due to the considerations of reputation or political, in accordance with the provisions obtained by the Daily Caller News Foundation. Cramer’s account would also prevent banks and credit unions with over $ 10 billion of assets that refuse to conduct business with a person or industry due to their beliefs in using the key electronic transfer of money network This is necessary for transaction service and management.
Cramer (in the photo above) first introduced Legislation during the 118th Congress, although he did not go to vote in any of the chamber. The Act aims to protect industries and people who were previously subjected to programs “deban” for alleged ideological reasons, including conservative people and organizationsas well as firearms producers and fossil fuel manufacturers.
“I think it is essentially wrong, that banks can be a moral compass for industries,” said Cramer DCNF.
Several senators have already organized the upcoming bill, including republican sense. Jim Banks from Indiana, Marsha Blackburn from Tennessee, Ted Cruz from Texas and Katie Britt from Alabama.
Soon re -introduced Bill The support of the National Rifle Association (NRA), the digital chamber, blockchain association, online lenders and the GEO group, in accordance with experience in the regulations obtained by DCNF.
In recent years a few main ones banks In the United States they met accusations With discrimination against clients based on their personal beliefs or political affiliation. For example, Bank of America was earlier criticized for the alleged refusal of services to conservative clients. In 2023, former prosecutor general Kentucky Daniel Cameron accused JP Morgan Chase about involvement in similar practices Discrimination. Other state prosecutors also warn that financial institutions potentially involved in discrimination against some industries, such as weapons producers and fossil fuel producers.
Visa of the main credit companies, Mastercard and American Express agreed to create a trade code especially for sellers of firearms and ammunition in 2024 Reported.
“People saw for four years what was happening when it was awakened,” said Cramer DCNF. “When they get control of the government, they get control of all institutions supporting our economy, not just the government. They receive regulatory bodies that exert this pressure on people. “
“I think that the bank’s presidents themselves would like to relieve which it would assure such as this account so that they do not have to think about the investor of activists who will come after their presidency or liberal board members who will try to take them out of proxy,” added Cramer.
During the first presidency of President Donald Trump, his administration created The principle of fair access – which cramer he helped Craft – in order to ensure fair access to banking services, regardless of their religious or political views. However, the implementation of the principle was placed During the term of office of former president Joe Biden.
While the principle of fair access was stopped as part of the Biden-Harris administration, states such as Tennessee and Florida have adopted Their own regulations regarding “fair access” or “anti-debank” in recent years.
Honest access to Cramer to the Banking Act also expands to Act on financing of freedomThe Act also introduced by the Senator in March 2019, which was aimed at ensuring that huge financial institutions cannot refuse service to some industries protected by the constitution, which are fully compatible with all provisions, provisions and laws. The Act on financing of freedom was one of the first bills that Cramer introduced After joining the Senate in 2019.
In the previous Congress, the primary legislation gained industry support of various organizations, including the Nation Shoothing Sports Foundation, NRA, Independent Petroleum Association of America, National Mining Association and Kentucky Coal Association.
“I have to attribute to banks a little, many of them abandoned the opposition of the defanes of some industries, their rhetoric has changed slightly, and in some cases maybe a lot,” said Cramer for DCNF. “I just think that our time is good and we create a rush. The banks themselves, even without regulations, begin to find out that they are here on the wrong side of history. “
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Ireland Owens is a reporter at the Daily Caller News Foundation.
Photo “Senator Kevin Cramer” Late. Kevin Cramer.
