What [the Fair Access to Banking Act] would do is it could prohibit banks from creating categorical exclusions, industries, complete industries; the firearms business, fossil gasoline, carbon industries, personal prisons. Industries that the banks — many banks, giant banks — have categorically said they’re not going to help sooner or later.
And these are authorized commerce. These are worthwhile corporations. I’m simply saying you can’t discriminate that approach in case you’re an FDIC financial institution. And in case you do, you need to in all probability lose your insurance coverage.
North Dakota Senator Kevin Cramer on Banks Discriminating Against Legal Industries