The United States Senate Banking Committee will meet this week to discuss the “SAFER Banking Act,” a bill by Sen. Steve Daines (R-MT) that stops the Biden administration from pressuring banks to close the accounts of law-abiding Americans engaged in businesses that offend liberals.
Daines pointed to “Operation Chokepoint,” an Obama-era Treasury Department program to close the bank accounts of legal gun sellers, current Biden administration efforts to cut off access to banks by legal cannabis retailers, and proposed plans to shut off bank accounts of so-called “climate offenders” or otherwise do not comply with so-called “environmental and social guidance” rules written by liberal activists.
“The ‘SAFER Banking Act' is about keeping our Montana communities safe and reducing the risk of crime but it's also an important opportunity to ensure all legal businesses, including firearm manufacturers and energy producers, are protected from the Left's woke agenda. No legal Montana business should be shut out of banks or credit unions. I'm glad to work with my colleagues to strengthen this bill and ensure Montana businesses are able to access financial institutions,” said Daines.
Banks and credit union are among those opposing Biden's plans for federally-controlled bank accounts.
“The bottom line is that the voters of Montana have legalized cannabis at the state level, and when the federal government denies cannabis-related businesses access to banking services, it makes our communities less safe and less prosperous. The SAFE Banking Act provides a safe and predictable environment for Montana banks to serve legitimate, state-regulated cannabis-related businesses,” said Sam Sill, President/CEO of Montana Bankers Association.
Daines does not support legalizing cannabis, but also opposes the federal government closing the banks accounts of businesses abiding by state law.
“This crucial piece of legislation provides a secure platform for cash and payroll deposits for legal Montana businesses, which ensures the financial security of their employees,” added Karen Smith, SVP/Chief Advocacy Officer of Montana's Credit Unions.
The bill will be considered for further action in a Wednesday, Sept. 27 executive session.
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
Anybody else remember when Progressive Socalists/Dimocrats were hysterically denigrating Trump for being excessively “authoritarian”?
They dam well better
I would say this leaves no doubt that Dems are working to destroy America. Time we leave them out of gov’t. by voting All GOP !