Bloomberg: Banks Aim to Slow Effort to Ban Bias Against Oil, Gun Firms

Bloomberg: Banks Aim to Slow Effort to Ban Bias Against Oil, Gun Firms

Article appears in Bloomberg

Wall Street lobbyists are demanding that a key bank regulator give them more time to react to a controversial rule proposal that could be fast-tracked before President-elect Joe Biden takes office in January.

The measure floated last week by Brian Brooks, acting head of the Office of the Comptroller of the Currency, would bar banks from refusing to deal with firms in businesses such as those in the oil, firearms and prison industries. The proposal was opened to a 45-day comment period that would end Jan. 4, two weeks before the inauguration of Biden, who could remove Brooks from the OCC post.

To read the full article, please click here.