Washington, D.C. – U.S. Congressman Andy Barr (KY-06) released the following statement after the Office of the Comptroller of Currency issued a rule today requiring banks to provide fair access to bank services, capital and credit:
“I commend the Office of the Comptroller of Currency (OCC) for issuing the Fair Access to Banking rule. The Fair Access Rule is a welcome development in a time when political correctness and public relations pressure are driving the nation’s largest banks’ lending decisions, rather than the risk metrics associated with an underlying loan.
“Banks are deciding to cut off access to capital, divest their holdings, or otherwise limit financing to legally operating businesses because those businesses are politically unpopular with outspoken critics on the left. The rule will ensure that banks’ decisions to finance legally operating businesses, such as fossil energy companies, are based on objective risk metrics and not political posturing. Politicizing access to capital is unacceptable and needs to end. The Fair Access Rule is a step in the right direction.”
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