Banks who cut ties with gun companies would be penalized under new Senate bill March 27, 2019
Sen. John Kennedy is co-sponsoring the bill. He said, “It’s not a bank’s job to create policy. They need to leave the policy making to Congress. Banks should not be able to discriminate against lawful customers on the basis of social policy. The banks should keep in mind that these lawful customers are the same hard-working taxpayers who bailed them out during the recession,” according to a press release from Cramer’s office.
“This legislation will ban big banks from refusing to do business with customers that may not share the same political values as the bank. This kind of power move is an unfair assertion of dominance by the big banks, which is why it should be illegal,” Kennedy added.
Cramer and Kennedy are both members of the Senate Banking Committee.
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