Many on the left want to allow banks to discriminate on political ideology, among other things, because large banks have already used their power to promote a variety of causes favored by Democrats.
During the final weeks of the Trump administration, the federal Office of the Comptroller of the Currency (OCC) issued an important regulation that would have required financial institutions to base their rules governing access to banking services on financial concerns, rather than political views.
According to the Trump-era OCC, "The rule codifies more than a decade of OCC guidance stating that banks should conduct risk assessment of individual customers, rather than make broad-based decisions affecting whole categories or classes of customers, when provisioning access to services, capital, and credit."
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