Senator Cramer introduces bill to prevent banks from discriminating based on political beliefs
Republican Senator Kevin Cramer from North Dakota plans to introduce the Fair Access to Banking Act, which would prevent financial institutions from discriminating against individuals or industries based on political beliefs. This legislation aims to protect those previously affected by "debanking" practices. Cramer's bill would restrict banks and credit unions with over $10 billion in assets from denying services due to ideological reasons. It builds on previous efforts, including the Fair Access Rule, which was halted under the Biden administration. Several senators have co-sponsored the bill, which has received support from various organizations, including the National Rifle Association. Recent years have seen accusations against major banks for discriminating against conservative customers and certain industries.