U.S. Comptroller of the Currency Finalizes Rule Requiring Large Banks to Provide Fair Access

By artappraiser on Fri, 01/15/2021 - 4:49pm |

1/6 On his last day before stepping down, acting Comptroller of the Currency issued a rule making it harder for banks to refuse to lend to anyone for partisan or reputational reasons. https://t.co/RHOF8iI5kU
— Lauren-Brooke (L.B.) Eisen (@lbeisen) January 15, 2021

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https://www.occ.treas.gov/news-issuances/news-releases/2021/nr-occ-2021-8.html

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2/6 Although created to protect the oil & gas industry, it could potentially impact lending to privately managed prisons. https://t.co/lsF9o9UrQC
— Lauren-Brooke (L.B.) Eisen (@lbeisen) January 15, 2021

3/6 The federal rule covers the biggest banks and would require them to provide data quantifying the risk in justifying their refusal to provide financial services to organizations and companies such as family planning centers, firearms manufacturers, and private prison companies
— Lauren-Brooke (L.B.) Eisen (@lbeisen) January 15, 2021

4/6 The rule starts April 1 & covers banks with more than $100 billion in assets. But, a new Comptroller under President-Elect Biden could delay the rule & Congress could overturn it using the Congressional Review Act. https://t.co/Dt29mLxNhs
— Lauren-Brooke (L.B.) Eisen (@lbeisen) January 15, 2021

by artappraiser on Fri, 01/15/2021 - 4:52pm

U.S. Comptroller of the Currency Finalizes Rule Requiring Large Banks to Provide Fair Access

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