Bill Barr criticizes Florida debanking law
Earlier this month, former U.S. Attorney General Bill Barr weighed in on the growing debate over debanking during an event in Washington.
“Debanking” — which refers to a financial institution denying or terminating services to individuals or businesses based on certain risk factors — has become a main point in debates over free markets and regulatory overreach. Barr explored the challenges state-level debanking laws pose to consumers, businesses and regulators, using Florida’s HB 989 as an example.
Barr, who served as the head of the U.S. Department of Justice under Presidents George H.W. Bush and Donald Trump, oversaw part of the legal and regulatory landscape that shapes financial practice...
