Stop banks and regulators from denying financing to lawful energy projects
Will stop banks and regulators from denying financing to lawful energy projects.
Occurrences
Evidence
Congressmen Andy Barr (KY-06) and Ritchie Torres introduced the Financial Integrity and Regulation Management (FIRM) Act, bipartisan legislation to prohibit federal banking regulators from using “reputational risk” as a justification to deny financial services to lawful businesses or individuals.
H.R. 1900, introduced by Rep. Barr, was reported (amended) by the Committee on Financial Services on 06/04/2025 and placed on the Union Calendar.
Barr says he and the committee have pushed back on onerous regulations and will continue to ensure banking regulators are not harming the ability of financial institutions to provide financial services to Americans.
The press release says the Main Street Act would reduce regulatory barriers, require clearer guidance and more transparency in the chartering and supervisory process for new banks, and strengthen community banks by promoting common-sense tailoring and improved supervision.
Barr introduced the Emergency Transaction Account Guarantee (E-TAG) Act, saying it would give federal regulators tools and flexibility to respond quickly to future financial emergencies.
Assessments
Barr took concrete action closely aligned with the promise by introducing the bipartisan FIRM Act to stop banking regulators from using 'reputational risk' to deny services to lawful businesses, and he advanced related banking-regulation legislation through committee. That shows meaningful effort and some legislative progress on the core issue of regulators constraining financing for lawful energy or other lawful projects. However, the available evidence does not show final enactment of the key proposal or a completed policy change that actually stopped banks and regulators from denying financing to lawful energy projects. Because the promise outcome itself was not fully achieved, but Barr materially pursued it in office, the best judgment is partial rather than delivered.