The OCC Friday afternoon proposed a rule stating that banks should provide access to services, capital and credit based on their risk assessment of individual customers and not make broad-based decisions that affect whole categories or classes of customers. This proposed rule would prohibit covered national banks and federal savings associations—generally, those with $100 billion or more in assets—from denying services in an effort to disadvantage or otherwise hinder the customer from competing in a market or business segment, or to benefit another person or business activity.
The OCC said the proposal came in response to decisions from some banks to stop financing specific kinds of businesses. It implements language included in Title III of Dodd-Frank, which charged the OCC with “assuring the safety and soundness of, and compliance with laws and regulations, fair access to financial services, and fair treatment of customers by, the institutions and other persons subject to its jurisdiction.”
ABA is currently reviewing the proposal and will provide feedback to the OCC. Comments on the proposal are due Jan. 4.