1. United States
2. Mo.
3. Letter

I am writing to express my strong support for H.R. 987, the "Fair Access to Banking Act," which was recently introduced in the House of Representatives. I urge you to champion this important legislation and work to ensure its passage. This bill addresses a critical issue facing our economy and democracy: the concerning trend of financial institutions denying services to lawful businesses based on subjective political or reputational considerations rather than objective, risk-based criteria. When banks and payment processors can arbitrarily cut off access to financial services for legal industries and companies, it sets a terrifying precedent that undermines both free enterprise and democratic governance. Financial institutions should not act as unelected regulators or legislators, especially when they benefit from taxpayer-funded programs like discount window lending and deposit insurance. The Fair Access to Banking Act would ensure that banks with significant assets make lending and service decisions based on quantitative, impartial risk-based standards rather than political bias or external pressure. This legislation is essential because it: Protects lawful businesses from discriminatory denial of financial services Ensures taxpayer-supported financial institutions serve all law-abiding customers fairly Prevents the privatization of regulatory power by unelected financial institutions Requires banks to use objective, individualized risk assessments rather than blanket industry exclusions The bill provides reasonable safeguards while maintaining banks' ability to make sound risk-management decisions based on empirical data and established standards. It does not force banks to provide services to anyone, but simply requires that their decisions be based on legitimate financial criteria rather than political considerations. I believe this legislation is crucial for maintaining a free and fair marketplace where legal businesses can access the financial services they need to operate and grow. I respectfully urge you to support H.R. 987 and work with your colleagues to advance this important protection for economic freedom. Thank you for your time and consideration. I look forward to your support of this vital legislation.