GOP Senator Kevin Cramer (R-ND) is spearheading an effort to ensure that firearm related small businesses do not receive discriminatory treatment from banks, after the Senate passed additional funding to the Small Business Administration’s (SBA) Paycheck Protection Program (PPP). Sen. Cramer penned a letter to Treasury Secretary Steve Mnuchin, Federal Reserve Chairman Jerome Powell and Small Business Administrator Jovita Carranza asking the trio of administration officials, all of whom play a role in the execution of PPP loans, how this type of discrimination would be prevented. A group of GOP senators joined Sen. Cramer in defending the Second Amendment during COVID-19:
Several of the nation’s systemically important financial institutions use their market dominance to financially discriminate against legal and compliant businesses for political reasons.
This includes the firearms and ammunition industries. pic.twitter.com/1Dbl4xUQIB
— Sen. Kevin Cramer (@SenKevinCramer) April 29, 2020