State senators advanced a bill Monday that would ban financial institutions from “debanking” or discriminating against people on the basis of their religious or conservative political beliefs. Lawmakers moved Senate Study Bill 3094 out of subcommittee Monday. Supporters of the bill said an amendment, not yet public, is planned for the bill that would clarify that the measure applies to large banks that serve over $100 billion in assets. Wells Fargo lobbyist Doug Struyk said the financial services company is the number one agriculture lender in the state, number one firearms lender in the country and one of the top lenders for the oil and gas industries. “Iowa Bankers opposes government intervention in markets, whether that’s from the left or the right,” Rozenboom said.

Source: Fox News January 30, 2024 12:32 UTC