WASHINGTON – U.S. Senator Kevin Cramer (R-ND), a member of the Senate Banking Committee, issued the following statement on the U.S. Department of Treasury’s Office of the Comptroller of the Currency (OCC) pausing publication of its rule to ensure large banks provide all customers fair access to their services:
“The Fair Access rule was completed with no steps skipped, and all interested parties were allowed to offer their input. It is a good and necessary rule, designed to protect legal businesses from facing discrimination by big banks. There’s no reason for today’s action by career officials in the Office of the Comptroller of the Currency other than bending to political pressure from big banks, and stalling or eliminating this rule will not stop those of us who support it from continuing these efforts. The Biden Administration should use this opportunity to demonstrate leadership and not just be puppets for the large financial interests who back them.”
Senator Cramer applauded the rule when it was finalized and worked with Acting Comptroller of the Currency Brian Brooks and members of the Trump Administration to get it over the finish line when it was first proposed. Learn more here.