Bank Rule Requiring Lending
to Oil, Gun Companies
Paused by OCC
Bloomberg,
by
Jesse Hamilton
Original Article
Posted By: NHChemist,
1/29/2021 3:17:25 PM
The Office of the Comptroller of the Currency said Thursday that it has paused publication of a final rule that would require banks to do business with companies such as oil drillers and gun manufacturers that they might otherwise choose to avoid because of perceived reputational risk. The OCC said in a statement that the delay of the rule, which drew opposition from bankers as well as Democrats.
But bakeries have to bake cakes for...
24 people like this.
Reply 2 - Posted by:
sanspeur 1/29/2021 3:41:30 PM (No. 678632)
fitting the bloomberg network covers this .mini mike is a non stop scold , a tiresome screeching toad
10 people like this.
Reply 3 - Posted by:
Vaquero45 1/29/2021 3:42:08 PM (No. 678633)
The big banks are the moneylenders if the Deep State. I bank at a local credit union - great service, and their own Visa cards.
13 people like this.
Reply 4 - Posted by:
BarryNo 1/29/2021 3:55:30 PM (No. 678638)
So, they'll shut off the finance's to the gun companies? What part of "Shall not Infringe" don't they understand? Perhaps we should show them.
16 people like this.
Reply 5 - Posted by:
CactusStar 1/29/2021 4:37:50 PM (No. 678670)
Just let us know and refresh our memories as to who these banks are, so we can avoid them. Better yet, does anyone know which banks do not boycott gun manufacturers?
6 people like this.
Reply 6 - Posted by:
TXknitter 1/29/2021 4:48:37 PM (No. 678677)
Yes OP, and its a good time to get out of as much debt as possible too. We too changed credit card companies.
8 people like this.
Reply 7 - Posted by:
gorzabozo 1/29/2021 5:05:47 PM (No. 678690)
What's good for the goose is good for the gander. Lets set up our own bank based on Christian principles and not lend money to producers of alcohol, tobacco or mind altering substances. Same with abortion providers, strip clubs, bars, etc...... Based on the rules the Left created lets break this off in their backsides. Use the Left's hypocrisy against them as they use our sense of fairness against us.
10 people like this.
Reply 8 - Posted by:
Rumblehog 1/29/2021 5:28:01 PM (No. 678700)
Sue them. Un-Constitutional according to the Equal Protection Clause of the U.S. Constitution.
7 people like this.
Reply 9 - Posted by:
DVC 1/29/2021 5:34:26 PM (No. 678708)
Illegal, of course. But laws and the Constitution mean NOTHING any more.
9 people like this.
Reply 10 - Posted by:
Knotwyrkin 1/29/2021 8:37:17 PM (No. 678808)
Trump should start a bank.
4 people like this.
Reply 11 - Posted by:
Geoman 1/29/2021 11:16:59 PM (No. 678871)
If this type of discrimination is allowed, then can small banks and savings & loans stop lending based on other demographic criteria? At least they could show valid economic reasons to stop being coerced into lending to certain high risk communities of borrowers.
1 person likes this.
Reply 12 - Posted by:
ARKfamily 1/30/2021 6:28:15 AM (No. 678991)
So then find another solution besides banks. How about investors?
0 people like this.
Reply 13 - Posted by:
mseegal 1/30/2021 3:06:24 PM (No. 679456)
I belong to three Credit Unions and get great rates and service. They fly under Congress' PC radar. No banks for me!
0 people like this.
Reply 14 - Posted by:
cheeflo 1/30/2021 4:46:36 PM (No. 679523)
As federally insured institutions, how can banks pick and choose their customers on any other basis than sound banking practices, like financial integrity and creditworthiness?
0 people like this.
Reply 15 - Posted by:
JHHolliday 1/30/2021 5:46:13 PM (No. 679558)
We are certainly done if the government can cut off access to bank services simply because they don't like the political leanings of the business owner. Pressure from the feds is real pressure on a bank. I am a retired, former owner of an insurance agency. Let's say I am also outspoken about my conservative political beliefs and some federal drone sees it and uses some future rule like this to deny me any access to banking services. Believe me, the Dems are right now dreaming about doing something like this if they hold onto power.
0 people like this.
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This cancel culture is going to destroy the USA. I am in the process of looking for new credit cards and I changed my banking institution because of this during the 0bummer admin. BOA, Chase, CitiBank and Wells Fargo are among the banks that favor discrimination.