Maloney Applauds Halt to OCC Fair Access Rule
Congresswoman Carolyn B. Maloney (D-NY) today applauded the announcement from the Office of the Comptroller of the Currency (OCC) that the publication of the recently finalized “Fair Access to Financial Services” rule was paused. The OCC’s rule would have forced financial institutions to lend to and support gun manufacturers. The Congresswoman, on January 19, wrote to then-President-elect Biden urging him to block this rule.
“I have long championed gun safety measures in Congress, and this is very welcome news. In recent years, I, and other gun safety advocates, have welcomed news of financial institutions making the responsible decisions to stop financing bloodshed and death by limiting or cutting ties with gun manufacturers. But this Trump-era rule, the so-called ‘Fair Access to Financial Services’ rule, would negate these actions by effectively requiring financial institutions to lend to and support gun manufacturers. The OCC should not be forcing anyone to lend to industries that present real risks and dangers to our society, especially gun manufacturers.”