WASHINGTON – U.S. Sens. Kevin Cramer (R-ND) and John Kennedy (R-LA) today introduced the No Red and Blue Banks Act to prohibit the award of federal contracts to banks that discriminate against lawful businesses through social policy considerations.
“Banks should not be the arbiters of constitutionality,” said Senator Cramer. “This legislation ensures financial institutions cannot do business with the federal government if they do not respect the constitutional rights of their customers. The federal government should not be rewarding banks who target supporters of the Constitution.”
“Banks that violate law-abiding citizens’ constitutional rights have no business profiting off the federal government. They’re threatening the sanctity of the Constitution and the Second Amendment,” said Senator Kennedy. “Citigroup and Bank of America are trying to make banking a red versus blue issue. Anti-gun policies force business owners to abandon their Second Amendment rights in order to find banking services. That’s a slap in the face to every American who helped bail out Citigroup and Bank of America during the financial crisis.”
Sens. Cramer and Kennedy also filed the Freedom Financing Act to ban financial institutions from refusing to do business with customers who may not share the same political values as the banks.
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