Industry Support for Measure to Not Force Banks to be “Judge and Jury”
ABA lends its support to Financial Institutions Customer Protection Act of 2015, which is being considered by the House Financial Services Committee today. The measure would require federal banking agencies to provide a material reason for a financial institution to terminate a relationship with a customer or group of customers, rather than relying on banks to be the judge and jury on whether customers are operating legally. [7/28/15]
