Sens. Cramer, Rubio, Cotton, Blackburn, Cruz Introduce FDIC Act to Combat Banks' Political Attacks on Federal Contractors

WASHINGTON — U.S. Senators Kevin Cramer (R-ND), Marco Rubio (R-FL), Tom Cotton (R-AR), Marsha Blackburn (R-TN), and Ted Cruz (R-TX) introduced the Financial Defense of Industrial Contractors (FDIC) Act, which would combat today’s political discrimination by some of the largest banks operating in the United States against federal contractors, including those which operate facilities on behalf of the Immigration Customs and Enforcement Agency (ICE). A one pager of the bill is available here.

“Some large banks are weaponizing their essential position in the economy to discriminate against companies who assist our immigration law enforcement operations,” Senator Cramer said. “If they would like the right to deny service to certain companies, the federal government should have the right to withdraw its taxpayer-funded guarantees.”