“Fair Access” Rule

The banking regulator Office of the Comptroller of the Currency proposed a rule for “fair access to financial services” in response to banks’ decisions to limit their provision of certain financial services to fossil fuel companies, gun manufacturers, and private prison companies. CASI leadership filed a comment letter to the proposal, arguing that the rule lacked sufficient legal basis, fundamentally misunderstands the basis for banks’ business decisions, and could have unintended consequences.