LANSING, Mich. (Michigan News Source) – Ahead of the legislature adjourning for the rest of the year, a new bill was introduced aimed at reducing discriminatory practices from financial institutions against certain industries as a result of their product.
Representative Andrew Beeler’s (R-Port Huron) introduced House Bill 5310, it would discourage financial institutions from discriminating against lending money to various businesses involving firearms, timber, or fossil fuel industries among others.
“Banks and other financial institutions are supposed to be in the business of finance — not discrimination,” Rep. Beeler said. “They should protect the resources of the families and companies who deposit funds, lending to viable investments without political motivation. People and businesses shouldn’t be banned from using a credit card, obtaining a loan, or getting paid simply because they advocate for their constitutional rights or work in fields that are out of fashion with far-left activists.”
He also explained how these institutions should not cave to social pressures.
“This growing pressure for banks and lenders to make discrimination a standard business practice is an unacceptable attack on free speech and free enterprise, and the state should not use taxpayer dollars to prop up the powerful institutions engaging in this invidious discrimination.”
Now, the legislature will not likely convene again until February, or later, after House Democrat leadership chose to end session early following the loss of the political majority in the House spurning a proposal for bipartisan power sharing agreement from Representative Matt Hall (R-Richland Township).
“Michiganders want their leaders to work together to make our state safe and successful,” Rep. Hall said. “The balance of power in the House of Representatives is a call to bipartisanship, and Michigan legislators on both sides of the aisle should answer the call and find common ground.”
Minority Leader Hall called upon House Leadership to join in and address a host of issues facing the state.
“We can protect taxpayers by charting a more accountable, responsible path forward on economic development,” he said. “We can protect Michigan students by approving the bipartisan school safety and mental health plan. And we can help people drive to work and school by determining how to invest our resources to repair local roads and bridges. House Republicans are focused on Michiganders’ priorities. We hope Speaker Tate and House Democrats will join us.”
Rep. Hall’s resolution was submitted ahead of the session closing, but session concluded with a 54 – 54 tie between members from the Democrats and Republicans on Tuesday.
House Bill 5310 was referred to the House Committee on Government Operations and awaits consideration till the legislature returns.