“Regulator Shelves Rule Meant To Force Banks To Serve Oil, Gun Companies”

“The Office of the Comptroller of the Currency (OCC) is shelving a controversial rule meant to prevent banks from rejecting corporate customers based solely on their industry.

The OCC announced Thursday that it would wait to publish its “Fair Access” rule in the Federal Register until a full-time comptroller can review it, preventing it from taking effect until President Biden’s eventual nominee assumes office.

The move comes roughly a week after the White House imposed a freeze on all rulemaking activity that began before Biden took office, though the OCC said the pause was the agency’s decision alone.”

Sylvan Lane reports for The Hill January 28, 2021.