Attorney General Alan Wilson leads 22-state coalition supporting Senator Tim Scott’s fight against de-banking

(COLUMBIA, S.C.) – South Carolina Attorney General Alan Wilson is leading a coalition of 22 state attorneys general in commending U.S. Senator Tim Scott’s newly introduced legislation: the Financial Integrity and Regulation Management Act (“FIRM Act”). The bill is aimed at curbing the politically motivated denial of financial services—commonly known as de-banking. 

“We commend Senator Scott for taking a bold stand against de-banking, a practice that threatens free speech, religious liberty, and equal access to financial services,” said Attorney General Wilson. “No law-abiding American should be denied banking access based on their beliefs or political affiliation.” All Americans, regardless of ideology, deserve equal treatment by financial institutions.  

The coalition warns that de-banking efforts, once focused on firearms manufacturers and payday lenders, have expanded to include religious organizations, conservative tech leaders, and even former President Donald Trump and the Trump Organization. The letter also criticizes proxy advisory firms for pressuring shareholders to oppose reforms that would eliminate politically driven banking discrimination. 

“These politically charged attacks are fundamentally un-American and may also violate state laws,” Wilson continued. “This legislation gives us another tool to push back and protect citizens’ rights.” 

The letter is also joined by attorneys general from North Dakota, Georgia, Ohio, Florida, Montana, Louisiana, Alabama, Texas, Idaho, Oklahoma, Arkansas, Nebraska, West Virginia, Tennessee, South Dakota, Utah, Virginia, Mississippi, Missouri, Kansas, and Pennsylvania. 

You can read the full letter here.