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Lankford Supports Move to Prevent Lender Discrimination

OKLAHOMA CITY, OK – Senator James Lankford (R-OK) issued the following statement today after the Office of the Comptroller of the Currency at the Department of Treasury announced a new proposed rule that would codify that financial institutions may not discriminate against certain industries in their lending practices:

“Financial institutions should consider credit-worthiness when deciding whether or not to issue a loan, not whether they agree with or use a legal business product or service,” said Lankford. “The attempt to pressure lenders to ‘cancel’ certain industries, including gun manufacturers and energy companies is inappropriate and discriminatory. I am glad Acting Comptroller of the Currency Brian Brooks is addressing this unfortunate trend to ensure all industries have the same access to opportunities regardless of whether lenders agree with their product or service. I support lending that focuses on good credit, legal operation, and good bookkeeping, rather than on a politically motivated agenda.”