OCC Finalizes 'Fair Access' Rule In Last-Minute Push

Law360 (January 14, 2021, 12:16 PM EST) -- The Office of the Comptroller of the Currency said Thursday it has finalized its "fair access" rule limiting the ability of bigger national banks to stop lending to fossil fuel companies, gun makers and other politically controversial businesses, a move that's already being condemned by bankers and consumer advocates as midnight rulemaking.

The rule, which was proposed in November, is a response to concerns that have been raised predominately on the political right about efforts by gun-control advocates, environmentalists and other activists to pressure banks, sometimes successfully, into cutting ties with particular businesses and industries they oppose.

Championed by the OCC's acting...

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