U.S. Representative Andy Barr (R-KY) opposes the so-called corporate cancellation culture in which left-wing activists attempt to use financial regulation to thwart access to financial services for industries that ‘they despise.
“Banks should make lending decisions based on objective, risk-based metrics, not the standards of an awakened corporate cancellation culture,” said Representative Barr.
On March 10, the congressman introduced the Fair Access to Banking Act, HR 1729, which would amend the Federal Reserve Act to prohibit certain financial service providers who deny fair access to financial services from using credit loan programs. Taxpayer-funded discount kiosks, according to Congress. save the invoice summary. On March 3, US Senator Kevin Cramer (R-ND) introduced the Senate version of the bill, S. 563, with US Senators Marsha Blackburn (R-TN) and Steve Daines (R-MT) among the co-sponsors originals of this measure.
“Our legislation codifies the fair access rule to ensure that radical environmentalists, gun control advocates and other political activists cannot arm financial institutions in their struggle to achieve their political agenda,” the representative said. Barr. “I would like to thank Senator Cramer for his partnership on this bill. “
The Kentucky Coal Association, the National Shooting Sports Foundation and the National Association of Wholesaler-Distributors support the measure.
U.S. Representatives Don Bacon (R-NE) and Bill Huizenga (R-MI) are among the members who joined Representative Barr to present HR 1729.