1. United States
2. Mo.
3. Letter

Fair access to banking for all legal industries is crucial for fostering economic growth and upholding principles of equal opportunity. The proposed Fair Access to Banking Act rightly aims to prevent discriminatory lending practices by financial institutions based on political or ideological grounds rather than objective risk assessments. Such discrimination undermines lawful businesses' ability to operate and innovate, stifling entrepreneurship and job creation across various sectors. This legislation would penalize major banks for denying services to creditworthy individuals or industries simply due to political considerations. It upholds impartiality by mandating risk-based analysis in lending decisions. Furthermore, it bars payment networks from arbitrarily discriminating against qualified entities, safeguarding robust competition and consumer choice. Ensuring fair access to banking resonates with core American values of free enterprise and meritocracy. No business operating within the law should face arbitrary barriers to financial services vital for success. This bill promotes a level playing field and equal opportunity across diverse industries contributing to economic dynamism. Its provisions foster responsible banking practices focused on objective criteria rather than partisan or reputational factors. As such, I urge you to support the Fair Access to Banking Act to uphold fair and non-discriminatory access to financial services for all legally compliant industries and individuals. This legislation champions impartial risk management over ideological exclusion, benefiting entrepreneurship, job growth, and free market economics.