Members of Congress write to banks & regulators about discriminatory derisking

18 members of Congress have sent 2 letters to the 3 US banks and 4 federal regulators about the difficulties experienced by Muslim not-for-profit organisations’ (NPO) in maintaining access to the financial system. The letter says that derisking practices (closing accounts of clients deemed to be high-risk) lead to “many individuals, entities, and types of activities being inappropriately categorised as …