The Council on American-Islamic Relations (CAIR), the nation’s largest Muslim civil rights and advocacy organization, today applauded Senator Elizabeth Warren (D-MA) and Representative Ilhan Omar (D-MN) for spearheading a joint U.S. Senate and House letter addressing discriminatory banking practices that disproportionately affect Muslim Americans and communities of color, often called “banking while Muslim.”
The letter, directed to major U.S. banks, demands transparency regarding policies addressing issues such as banking while Muslim, Black, and Iranian, and emphasizes the importance of ensuring equitable access to banking services for all Americans.
SEE: Lawmakers Call Out Major U.S. Banks For Discrimination | HuffPost
The letter, co-signed by Senator Bernie Sanders (I-VT), and Representatives Ayanna Pressley (D-MA) and Rashida Tlaib (D-MI), calls on banking executives to address concerns raised by lawmakers and respond to inquiries by March 13. CAIR urges the banking industry to demonstrate compliance with legal non-discrimination standards and engage in socially responsible practices to ensure equitable access to banking services for all Americans.
In a statement, CAIR Government Affairs Department Director Robert S. McCaw said:
“CAIR applauds Senator Warren, Representative Omar, and their congressional colleagues for calling on major U.S. banks to end their discriminatory de-risking practices that threaten the economic well-being of the American Muslim community. Muslim and Arab, Iranian, and South Asian Americans are often disproportionately and discriminatorily labeled by U.S. banks as high-risk when engaging in legitimate financial transactions, including sending payments abroad or donating to charities. American banks and lenders need to do better for minority communities.”
The lawmakers’ letter underscores the pressing need for transparency regarding banking practices that have unfairly targeted Muslim Americans and minority communities. The “banking while Muslim” phenomenon has led to the suspension or closure of bank accounts without explanation, as well as increased scrutiny of financial transactions, significantly impeding the financial autonomy of affected individuals and organizations.
Senator Warren emphasized the importance of holding banks accountable for practices that harm consumers and undermine financial access. She stated, “Banks don’t get a free pass to discriminate against Muslim Americans and other minority groups in the name of preventing suspicious banking activity.”
In 2022, CAIR welcomed a related joint U.S. House and Senate letter led by Representative Omar and Senator Warren and signed by 22 lawmakers addressed to the Biden Administration and the heads of all U.S. banking regulators calling on them to “improve banking access for immigrant communities and communities of color,” including Iranian and Muslim Americans.
CAIR remains committed to advocating for the civil rights of Muslim Americans and stands in solidarity with efforts to combat discriminatory practices in the financial sector.
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CONTACT: CAIR National Deputy Director Edward Ahmed Mitchell, 404-285-9530, e-Mitchell@cair.com; CAIR Government Affairs Director Robert McCaw, 202-742-6448, rmccaw@cair.com; CAIR National Communications Director Ibrahim Hooper, 202-744-7726, ihooper@cair.com; CAIR National Communications Manager Ismail Allison, 202-770-6280, iallison@cair.com