Oklahoma is one of the top states in the nation to do business. This is because, from energy to agriculture to small business, lawmakers have prioritized reducing regulatory burdens and allowing economic activity to thrive. As the state considers how to ensure fair access to banking, that same philosophy should guide our approach.
House Bill 3172, which is currently being considered by the Oklahoma Legislature, looks to create a new, statewide framework to prohibit debanking, the closure or limiting of a bank account for any discriminatory reasons, such as politics or religion.
The mission is right — no one should be turned away from a bank because of their political leanings — but the means to achieve it are wrong.
