It only relates to banks with more than $100 billion in assets, which OCC says "may exert significant pricing power or influence over sectors of the national economy."
That would include Citi, Goldman Sachs and JPMorgan Chase — each of which has limited lending to certain types of new energy projects. It also includes Bank of America, which in 2018 said it would stop financing the makers of military-style firearms.
Brian Brooks, who stepped down as Acting Comptroller of the Currency just hours after the rule was finalized:
"When a large bank decides to cut off access to charities or even embassies serving dangerous parts of the world or companies conducting legal businesses in the United States that support local jobs and the national economy, they need to show their work and the legitimate business reasons for doing so... Moreover, elected officials should determine what is legal and illegal in our country."
What was it the lefty progs said about bakeries needing to be forced to provide services to everyone?
bac = gay
The justification based on facts...
Brian Brooks, who stepped down as Acting Comptroller of the Currency just hours after the rule was finalized:
"When a large bank decides to cut off access to charities or even embassies serving dangerous parts of the world or companies conducting legal businesses in the United States that support local jobs and the national economy, they need to show their work and the legitimate business reasons for doing so... Moreover, elected officials should determine what is legal and illegal in our country."
The unfortunate piece...
"Looking ahead: OCC is expected to have a difficult time enforcing this rule, even if it remains on the books."
Archive link:
https://web.archive.org/web/20210115201156/https://www.axios.com/trump-banks-limiting-loans-gun-oil-companies-ba503def-ef8f-4b50-a2a7-6975ef5468c7.html
The bankers are scared.....
Most probably don't give crap, they were pressured into blocking the loans and now they have an excuse not to.
0bama's cabinet was told to him by those companies.