(Washington, D.C., 12/6/22) – The Council on American-Islamic Relations (CAIR), the nation’s largest Muslim civil rights and advocacy organization, today welcomed a joint U.S. House and Senate letter 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.
Sent last Friday, the letter was led by Representative Ilhan Omar (D-MN) and Senator Elizabeth Warren (D-MA) and co-signed by 20 other U.S. House and Senate lawmakers.
READ THE LETTER: POC Banking Discrimination Letter
SEE: Dozens Of Lawmakers Urge Banks To Stop Discriminating Against Muslims | HuffPost Latest News
In a statement, CAIR Government Affairs Department Director Robert S. McCaw welcomed the letter by stating:
“CAIR thanks Representative Ilhan Omar, Senator Elizabeth Warren and the 20 other congressional lawmakers who joined together in urging the Biden Administration and heads of all U.S. banking regulators to improve banking access for immigrant communities and communities of color, including Iranian and Muslim Americans.
“Banks’ ongoing wrongful targeting of American Muslim, Arab and Persian families, and closing their accounts, is a harmful and discriminatory practice in the U.S. financial sector that needs to immediately stop. This discrimination also extends to other immigrant and communities of color.
“CAIR is calling on the federal government and other financial industry regulators to immediately update their practices and guidelines to ensure greater equity in banking.
“CAIR also recognizes the crucial role NIAC Action played in supporting the advancement of this joint congressional letter that seeks to prevent banks from discriminating against communities of color, especially Iranian and Muslim Americans.”
About the Letter:
The letter was co-led by Senator Ed Markey (D-MA), Rep. Rashida Tlaib (D-MI) and Rep. Joyce Beatty (D-OH) and co-signed by Sen. Bernard Sanders (I-VT)and Reps. Jesús “Chuy” García (D-IL), Barbara Lee (D-CA), Pramila Jayapal (D-WA), Hank Johnson (D-GA), Bonnie Watson Coleman (D-NJ), Mark Pocan (D-WI), Jamaal Bowman (D-NY), Debbie Dingell (D-MI), Marie Newman (D-IL), Jan Schakowsky (D-IL), Katie Porter (D-CA), Alexandria Ocasio-Cortez (D-NY), Ayanna Pressley (D-MA), André Carson (D-IN), Deborah Ross (D-NC), and Sheila Cherfilus-McCormick (D-FL).
The letter was addressed to the Treasury Department, Financial Crimes Enforcement Network, Office of the Comptroller of the Currency, Federal Reserve, Federal Deposit Insurance Corporation, and the National Credit Union Administration).
According to the press release issued by Rep. Omar’s office, the letter specifically asks the Biden Administration and heads of U.S. banking regulators to “update Congress on their work to modernize financial crimes compliance (BSA/AML/FCC) obligations and sanction regimes in order to protect and promote equitable banking access – both for historically marginalized communities and the charitable organizations that work with such communities. Discrimination against immigrant communities, communities of color and charities with real or perceived connections to sanctioned and fragile countries has long plagued the financial services industry. This has made it challenging to send remittances and other life-saving forms of financial assistance to countries with weak financial governance.”
The letter asserts: “Countless U.S. individuals, businesses, and charities have been victims of discriminatory policies and practices that appear to limit their access to financial services because of their religion or national origin,” and “During this pandemic, many diaspora communities and charitable organizations in our districts have still found it challenging to send remittances and other life-saving forms of financial assistance to countries with weak financial governance and that are subject to U.S. sanctions. It is undoubtedly in the national interest of the United States to ensure the transmission of such funds go through formal, regulated, and transparent channels. The federal government must step in to halt and reverse these discriminatory actions that are directly tied to federal restrictions.”
“Banking as a charity/nonprofit and ‘banking while Muslim’ are not illegal and must stop being treated as such. As elected officials, it is our responsibility to amplify the voices of our constituents who feel powerless in the face of big banks and unaccountable regulators,” the Members added. “Many families and businesses across the country have felt the harsh impacts of our current sanctions and AML/BSA regimes for far too long, especially during this pandemic that has further disrupted formal transfer channels. We are advocating for a more inclusive financial system, and we reject that there is a binary choice between creating financial inclusion and protecting our financial system from abuse by illicit actors. These should be complementary goals.”
The letter requests a response from the Biden administration and the heads of U.S. banking regulators within the next 30 days.
CAIR’s mission is to protect civil rights, enhance understanding of Islam, promote justice, and empower American Muslims.
La misión de CAIR es proteger las libertades civiles, mejorar la comprensión del Islam, promover la justicia, y empoderar a los musulmanes en los Estados Unidos.
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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 Coordinator Ismail Allison, 202-770-6280, iallison@cair.com