Section 1. Purpose. Financial institutions have engaged in unacceptable practices to restrict law-abiding individuals’ and businesses’ access to financial services on the basis of political or religious beliefs or lawful business activities. Some financial institutions participated in Government-directed surveillance programs targeting persons participating in activities and causes commonly associated with conservatism and the political right following the events that occurred at or near the United States Capitol on January 6, 2021. The Federal Government suggested that such institutions flag individuals who made transactions related to companies like “Cabela’s” and “Bass Pro Shop” or who made peer-to-peer payments that involved terms like “Trump” or “MAGA,” even though there was no specific evidence tying those individuals to criminal conduct.
