Sens. Cramer & Rubio Raise Concerns About Banks Discriminating Against Americans Based on Political Views

Source: United States Senator Kevin Cramer (R-ND)

WASHINGTON – U.S. Senator Kevin Cramer (R-ND), member of the Senate Banking Committee, and Senator Marco Rubio (R-FL) sent a letter to Acting Comptroller of the Currency Michael J. Hsu raising concerns about Americans losing access to banking services due to their political affiliation or beliefs.  

“Recently, reports surfaced that the credit cards of Lori Flynn, wife of Lieutenant General Michael Flynn, USA, Retired, former National Security Adviser to President Trump, were allegedly terminated by JPMorgan Chase & Co. due to the bank’s concerns with the ‘reputational risk’ that affiliation with Mrs. Flynn could bring to the company,” the senators wrote. “If political views are considered a valid factor in a bank’s determination of reputational risk for the purposes of determining access to credit, the banking services of millions of Americans could be put in jeopardy.” 

Senator Cramer is leading the Fair Access to Banking Act, cosponsored by Senator Rubio and 31 other senators, which would prevent financial service providers from discriminating against constitutionally-protected industries and law-abiding, credit worthy businesses. It builds on the Trump Administration’s proposed Fair Access Rule and expands on legislation Senator Cramer introduced last Congress. Learn more here.
Click here to read the letter.