WASHINGTON –U.S. Senator John Cornyn (R-TX) released the following statement in support of the U.S. Office of the Comptroller of the Currency’s issuance of a proposed rule to prevent financial institutions from using discriminatory practices to deny certain industries loans:
“As every sector of our economy feels the strain from this pandemic, some financial institutions may want to pick winners and losers by discriminating against certain industries with their lending practices,” said Sen. Cornyn. “This proposed rule will help prevent U.S. banks from unfairly restricting credit to our energy sector and otherwise credit-worthy customers who employ countless Texans.”