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Banks Can’t Deny Services to Entire Industries Under OCC Proposal

banks-can’t-deny-services-to-entire-industries-under-occ-proposal

WASHINGTON—Big U.S. banks can’t refuse to lend to entire categories of lawful businesses under a rule proposed Friday, following complaints that the oil-and-gas industry was unfairly denied financing  by large lenders.

The Office of the Comptroller of the Currency said its proposal is aimed at ensuring “fair access” to banking services for all types of legal but politically controversial businesses, not just fossil-fuel companies.

It…

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