Sen. Kevin Cramer, R-N.D., reintroduced the Fair Access to Bank Act to combat what he called the “weaponization of the financial system.”
According to the bill, banks and credit unions with assets over $10 billion would face penalties of up to $10,000 per violation for refusing to do business with legally-compliant businesses. The financial institution could also lose its status as an insured depository institution or insured credit union.
“There is no place in our society for discrimination, and big banks and financial institutions are no exception,” Cramer said in a statement. “The Biden administration and their liberal base are weaponizing […]
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