Fair Access

The Acting Comptroller of the Currency wants to force every large bank to lend to every industry in every geographic region of the country, regardless of whether the bank has any knowledge of the industry or the local area, and regardless of any qualitative factors the bank may want to take into account. The OCC claims it is protecting politically disfavored customers, but really it is just telling senior management and bank boards that they cannot be trusted to make good decisions.

This policy lacks logic and legal basis, ignores basic facts about how banking works in the U.S. and undermines safety and soundness.