Days before getting kicked out of the White House, the Trump Administration is making a desperate ploy to force major banks to finance industries like private prisons, gun manufacturers, and fossil fuel companies. Brian P. Brooks, who was just appointed the Acting Comptroller of the Currency (OCC) proposed a rule that would require Big Banks to finance any corporation that passes minimal assessments — even if what they do violates the banks' own human rights policies, ethical standards, or risk assessments.1
The proposed rule, deceptively titled “Fair Access to Financial Services”, references our successful campaign to get 8 major banks to end their financing of the private prison industry, as well as other successful efforts to stop banks from funding climate destruction.2 This last-minute attempt to force the bankrolling of industries that have long track records of human rights violations and have lost public and institutional support, is dangerous. And it's a clear and callous attempt to roll back progress made by activists, like you.3
URGENT: Add your comment by Jan. 4. Let's stop the corrupt, outgoing Trump administration.
- Hamilton, Jesse. “OCC Plan Would Force Banks to Lend to Oil and Gun Companies.” Bloomberg. November 20, 2020.
- Levitin, Adam. “The OCC Stands Up for Fossil Fuels, Gun Makers, Opioid Manufacturers, and Payday Lenders.” Credit Slips. November 20, 2020.
- Docket (OCC-2020-0042) Posted by the Comptroller of the Currency on Nov 24, 2020.
Your letter to Brian P. Brooks, Acting Comptroller of the Currency (OCC), please insert a few sentences telling the OCC why you oppose this rule: