R.I.P. Scout26
Large banks (small banks aren’t covered by this rule) that want to cut off financing to entire lines of business must “show their work,” under this rule. As CNBC describes it: “The rule requires covered banks to make products and services available to all customers in the communities they serve, based on consideration of quantitative, impartial, risk-based standards established by the bank.”
This isn’t about microbreweries, though. It’s about oil, gas, and guns — for now. Soon enough, it will be about publishers, tech platforms, and whatever else the Left’s culture warriors decide to cancel in the Great Deplatforming.Activist investors have been pushing banks to divest from fossil fuels, gun-makers, and stores that sell guns. They are increasingly succeeding, and as Democrats take over government, you can bet that the banks will feel political pressure to cancel oil, gas, and guns.
Similar to the other thread about H1B Visas, it would have been nice to put this through 4 years ago. Hope this one hangs around longer than that first author thinks.
I'm suddenly becoming quite interested in cryptocurrency.
