Bill

Bill > SCR44


TX SCR44

TX SCR44
Urging Congress and the Trump Administration to stop federal regulators from pressuring banks to unjustly debank customers.


summary

Introduced
In Committee
04/07/2025
Crossed Over
Passed
Dead
06/02/2025

Introduced Session

89th Legislature Regular Session

Bill Summary

That the 89th Legislature of the State of Texas hereby respectfully urge the United States Congress and the Trump Administration to modernize anti-money laundering laws to better focus banks and law enforcement on potential financial criminal activity rather than the innocent banking activity of law-abiding customers

AI Summary

This resolution urges the United States Congress and the Trump Administration to address the practice of "debanking," where financial institutions are pressured by federal regulators to terminate banking relationships with certain businesses or individuals. The resolution highlights concerns about regulatory agencies like the FDIC using their leverage to compel banks to manage risk and detect financial crimes, which can result in banks severing relationships with law-abiding customers. Specifically, the resolution points to past examples like Operation Choke Point, where regulators attempted to discourage banks from working with specific industries such as gun sellers and payday lenders. The key provisions call for modernizing anti-money laundering laws to better focus on actual financial criminal activity, increasing transparency and accountability for regulators, and ensuring that law-abiding citizens can access financial services. As a final step, the resolution directs the Texas secretary of state to send official copies of the resolution to key federal government and banking regulatory officials, including the President, congressional leadership, and heads of the Federal Reserve, Office of the Comptroller of the Currency, and FDIC.

Committee Categories

Business and Industry

Sponsors (2)

Last Action

Referred to Business & Commerce (on 04/07/2025)

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