The rise of “cancel culture” in America has become a slippery slope, leading to unfounded discrimination by financial institutions against many of our nation’s core industries and leading job creators. Specifically, America’s gun manufacturers, energy producers, animal agriculture, government contractors and several other law-abiding and heavily regulated industries are being denied access to standard financial services offered to other industries and customers — based solely on subjective social and political views.
Financial institutions should not be the arbiters of access to banking for lawful businesses. The industries our coalition represents are some of the most heavily regulated businesses in the country. We are legal, lawful and compliant businesses that are proud of our products and the millions of Americans we collectively employ. Financial institutions receiving federal benefits and bailouts from American taxpayers should not have the right to arbitrarily deny services to lawful businesses.
The coalition supports the Fair Access to Banking Act introduced in the 117th Congress by Senator Kevin Cramer (R-ND) and co-sponsored by Senators John Barrasso (R-WY), Marsha Blackburn (R-TN), Mike Braun (R-IN), Shelley Moore Capito (R-WV), Bill Cassidy (R-LA), John Cornyn (R-TX), Tom Cotton (R-AR), Mike Crapo (R-ID), Ted Cruz (R-TX), Steve Daines (R-MT), Joni Ernst (R-IA), Deb Fischer (R-NE), Josh Hawley (R-MO), John Hoeven (R-ND), Jim Inhofe (R-OK), John Kennedy (R-LA), James Lankford (R-OK), Cynthia Lummis (R-WY), Roger Marshall (R-KS), Jerry Moran (R-KS), James Risch (R-ID), Rick Scott (R-FL), Tim Scott (R-SC), Richard Shelby (R-AL), Cindy Hyde-Smith (R-MS), Dan Sullivan (R-AK), Thom Tillis (R-NC), and Tommy Tuberville (R-AL), Roger Wicker (R-MS).
The Fair Access to Banking Act was also introduced in the U.S. House of Representatives by Congressman Andy Barr (R-KY-06) 2) and co-sponsored by Representatives Kelly Armstrong (R-ND- At Large), Don Bacon (R-NE-02), Rick Crawford (R-AR-01), Scott DesJarlais (R-TN-04), Russ Fulcher (R-ID-01), Paul Gosar (R-AR-04), Michael Guest (R-MS-03), Jody Hice (R-GA-10), Richard Hudson (R-NC-08), Bill Huizenga (R-MI-02), Darrell Issa (R-CA-50), Trent Kelly (R-MS-01), Doug Lamborn (R-CO-05), Jake LaTurner (R-KS-02), David B. McKinley (R-WV-01), Carol Miller (R-WV-03), Blake Moore (R-UT-01), Scott Perry (R-PA-10), Bill Posey (R-FL-08), Guy Reschenthaler(R-PA-14), Hal Rogers (R-KY-05), John Rose (R-TN-05), David Rouzer (R-NC-07), Adrian Smith (R-NE-03), Elise Stefanik (R-NY-21), Jackie Walorski (R-IN-02), Roger Williams (R-TX-25), and Don Young (R-AK-At Large).
The Fair Access to Banking Coalition is comprised of legal, lawful and compliant businesses representing America’s gun manufacturers, energy producers, animal agriculture, government contractors and other lawful industries working to ensure uniform and fair access to financial services.
Coalition members include Day 1 Alliance, Friends of Coal, Kentucky Coal Association, Lignite Energy Council, National Association of Wholesaler-Distributors, and National Shooting Sports Foundation.