What [the Fair Access to Banking Act] would do is it would prohibit banks from creating categorical exclusions, industries, entire industries; the firearms industry, fossil fuel, carbon industries, private prisons. Industries that the banks — many banks, large banks — have categorically stated they’re not going to support in the future.
And these are legal commerce. These are profitable companies. I’m just saying that you can’t discriminate that way if you’re an FDIC bank. And if you do, you should probably lose your insurance.
North Dakota Senator Kevin Cramer on Banks Discriminating Against Legal Industries