Biden Administration Suspends Rule Protecting Businesses From Banking Discrimination
Why? Because they are in the wrong business.
The Biden administration has rolled back a Trump-era regulation meant to protect politically disfavored businesses, like gun manufacturers and cryptocurrency exchanges, from being categorically denied banking services…
… It stated that “banks should conduct risk assessment of individual customers, rather than make broad-based decisions affecting whole categories or classes of customers when provisioning access to services, capital, and credit.”
This article was originally posted here: https://www.ac2news.com/2021/02/biden-administration-suspends-rule-protecting-businesses-from-banking-discrimination/.