Kennedy wants banks to stay out of gun debate

Bill would prevent federal contracts from going to banks with position on gun issue

Chris Miller
October 02, 2018 - 12:47 pm

Xinhua/Sipa USA

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Sen. John Kennedy (R-Louisiana) says he doesn't want banks that feel a need to mix politics and business to get business from the federal government. The junior senator from Louisiana has introduced legislation he says will discourage banks from doing that.

Calling it the "No Red and Blue Banks Act," Kennedy says banks that discriminate against lawful businesses based on "social policy considerations" should not get federal contracts.

The bill is a response to decisions by Citigroup and Bank of America regarding how they will do businesses with sellers and manufacturers of firearms. 

"I want to make sure that the federal government isn’t rewarding this behavior with even more taxpayer dollars," said Kennedy. "I have already petitioned the General Services Administration to cancel the federal government’s $700 billion contract with Citigroup."

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