Reps. Cleaver, Tlaib, Beatty, Omar Urge Treasury, Big Banks To Combat Banking Discrimination Against Muslim Americans As Economic Crisis Continues

(Kansas City, MO) – Today, United States Representatives Emanuel Cleaver, II (D-MO), Rashida Tlaib (D-MI), Joyce Beatty (D-OH), and Ilhan Omar (D-MN) called on the Department of Treasury, as well as three of the largest banks in the U.S., to modernize anti-money laundering regulations to combat banking discrimination against Muslim Americans. As the coronavirus pandemic continues to take a toll on American workers and the broader economy, charitable organizations and accessible banking are more important than ever. In letters to financial regulators, including Treasury Secretary Steve Mnuchin, and JPMorgan Chase CEO Jamie Dimon, Wells Fargo CEO Charles Scharf, and Bank of America CEO Brian Moynihan, the members of Congress are urging Treasury and big banks to end biased practices that have led to discrimination against Muslim Americans and organizations

"COVID-19 and the havoc it's wreaking on our economy doesn't discriminate against Democrat or Republican; Black or White; Muslim or Jewish; and the economic hardship will not be confined to any one region, race, or religious following," said Congressman Cleaver. "As reports have indicated, our nation is likely facing the greatest economic crisis since the Great Depression, and we're going to need all hands on deck to climb out of the hole we find ourselves in. We cannot afford to deny individuals or charitable organizations the ability to access critical banking services that will undoubtedly help our local communities because of their name or country of origin. It's not just wrong, it's self-sabotage."

In the letter, the lawmakers wrote:

"Banking as a charity/nonprofit and ‘banking while Muslim' are not crimes and must stop being treated as such. As elected officials, it is our responsibility to amplify the voices of those who feel powerless in the face of big banks and regulators. We are therefore advocating for a more inclusive financial system, and we reject the notion that there is a binary choice between creating financial inclusion and protecting our financial system from abuse by illicit actors."

The letter provided one example of an organization that has suffered as a result of "banking while Muslim". LaunchGood, a crowdfunding platform focused on serving the Muslim community, which was warned by WePayand its financial partner, Chase Bank, that they would be losing their services because they had perceived LaunchGood to be a high-risk organization. Most recently, Muslim groups rallied to raise a whopping $500,000 for coronavirus relief grants via LaunchGood, further highlighting the need for federal financial regulators and banks to act as the lawmakers are urging.

You can find the official letter to financial regulators here, as well as the official letter to Wells Fargo, JPMorgan Chase, and Bank of America here.

Emanuel Cleaver, II is the U.S. Representative for Missouri's Fifth Congressional District, which includes Kansas City, Independence, Lee's Summit, Raytown, Grandview, Sugar Creek, Blue Springs, Grain Valley, Oak Grove, North Kansas City, Gladstone, Claycomo, and all of Ray, Lafayette, and Saline Counties. He is a member of the exclusive House Financial Services Committee; Chairman of the House Subcommittee on National Security, International Development, and Monetary Policy; member of the Select Committee on the Modernization of Congress; member of the Committee on Homeland Security; and a Senior Whip of the Democratic Caucus. For more information, please contact Matt Helfant at 202-590-0175 or Matthew.Helfant@mail.house.gov A high-resolution photo of Congressman Cleaver is available here.