...WASHINGTON - Senate Republicans have introduced a bill targeting banks that refuse to offer depository services to contractors that operate facilities on behalf of the Immigration and Customs Enforcement Agency.
...The Financial Defense for Industrial Contractors Act, or FDIC Act, would remove FDIC insurance from banks with assets over $50 billion that refuse to provide banking services to firms with an active federal contract and are otherwise creditworthy and law-abiding.
..."Some of our nation's largest banks have decided to cater to the radical left's 'woke' agenda by abusing their systemic influence in our economy to deprive law-abiding federal contractors of banking services critical to their business," Rubio said.
...The bill is in response to six big banks' decision to stop offering depository services to contractors that operate facilities on behalf of ICE. Those banks are Wells Fargo, JPMorgan Chase, Bank of America, BNP Paribas, Barclays and SunTrust.
..."By denying critical financial services to ICE contractors, big banks have hobbled ICE's efforts to protect Americans. These banks shouldn't receive public funding if they're putting the public at risk."
Submitted 1500 days ago
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