Kennedy champions bill to stop government from awarding contracts to biased banks

WASHINGTON – Sen. John Kennedy (R-La.), a member of the Senate Banking Committee, today introduced the No Red and Blue Banks Act to stop the federal government from awarding contracts to financial institutions that discriminate against companies based on the customers’ social policy.
“The government shouldn’t reward banks for discriminating against businesses because of their industry or politics. The No Red and Blue Banks Act would fight political bias among banks by refusing to reward bad actors with government contracts,”
said Kennedy.
Sen. Kevin Cramer (R-N.D.) cosponsored the bill.
The No Red and Blue Banks Act would prohibit the General Services Administration from giving government contracts to insured depository institutions that refuse business to lawful companies because of the companies’ social policy.
The full bill text is available
here
.