1. United States
2. Calif.
3. Letter

Financial institutions must provide fair access to lawful businesses without discrimination or biases. The Fair Access to Banking Act aims to ensure equitable treatment by prohibiting banks from denying services based on subjective factors unrelated to quantitative risk assessment. Given the systemic importance of large banks and their past taxpayer bailouts, it is imperative they operate prudently based on impartial risk standards rather than arbitrarily cutting off entire industries. Doing so impedes lawful commerce, undermines economic vitality, and exceeds banks' purview as financial intermediaries. Fair access promotes safety, soundness and prevents banks from improperly shaping public policy. Unbiased lending decisions foster a stable, open market and protect individual economic freedoms. For these reasons, prohibiting discriminatory financial services denial is a reasonable measure to uphold fair access and the national interest.