• EXCLUSIVE — Rep. Andy Barr: new Fair Access bill aimed at "non-discrimination" for crypto

  • Feb 7 2025
  • Length: 3 mins
  • Podcast

EXCLUSIVE — Rep. Andy Barr: new Fair Access bill aimed at "non-discrimination" for crypto

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  • Who?Rep. Andy Bar (R-KY) — Chair, Subcommittee on Financial Institutions & Monetary PolicyLISTEN: Laslo & BarrAsk a Pol asks:Is your legislation needed because it’s just been a sea change from the last administration to this one? Or is it needed as a buffer in case there’s a future Dem. president?Key Barr:“Well, it’s needed for that reason, because we want to make sure that credit worthy borrowers are not discriminated against in broad categories just because of politics. We want non-discrimination,” Barr exclusively tells Ask a Pol. “Beyond that, now, a lot of the banks are asking for national preemption, because they want uniformity. You’re seeing these efforts in red states to do their own fair access laws, but in blue states, they’re actually actively, you know, they’re contemplating laws that would actually require banks to discriminate against certain industries.”Subscribe for FREE & get our latest exclusives from the US Capitol first! Caught our ear:“We just filed it this week,” Barr tells us. ICYMI — America’s first Crypto Congress is in full gearBelow find a rough transcript of Ask a Pol’s exclusive interview with Rep. Andy Barr (R-KY), slightly edited for clarity.TRANSCRIPT: Rep. Andy Barr SCENE: Rep. Andy Barr’s just left the floor of the US House of Representatives during a vote so he can greet some constituents when Ask a Pol’s Matt Laslo snags him for a quick interview… Matt Laslo: “You have the bill with [Sen. Kevin] Cramer?” Andy Barr: “Cramer. We just filed it this week.” ML: “Oh yeah?” AB: “And, you know, there was an Oversight [Committee] hearing on it today.”ML: “Oh, I was listening to it and the one from yesterday.” AB: “Ah, okay. We filed it…”ML: “That’s my question: Is your legislation needed because it’s just been a sea change from the last administration to this one? Or is it needed as a buffer in case there’s a future Dem. president?” AB: “Well, it’s needed for that reason, because we want to make sure that credit worthy borrowers are not discriminated against in broad categories just because of politics or their — you know, we want non-discrimination.” ML: “Yeah?” AB: “But, beyond that, now, a lot of the banks are asking for national preemption, because they want uniformity. You’re seeing these efforts in red states to do their own fair access laws, but in blue states, they’re actually actively, you know, they’re contemplating laws that would actually require banks to discriminate against certain industries.”ML: “Ahuh?” Support our independent journalism! Find us on Venmo, PayPal, Cash App — or just buy us a beer!AB: “So, you’d have conflicting — especially for a national bank — conflicting rules, so that they actually want one simple, uniform, fair access standard.” ML: “Interesting. The question is, where’s Cali on that?”AB: “What California?”ML: “Because that’s what happened with the children’s privacy act, is that California preemption, they had something real stout.” AB: “They had that on data privacy.” ML: “Yeah.” AB: “Exactly.” ML: “Yeah?” AB: “Yeah.”ML: “When it comes to crypto, do you think this legislation’s needed for the crypto industry…?”AB: “It is.” ML: “…or just broadly?” AB: “It’s definitely — the crypto industry has become disrupted. It used to be fossil energy industry, now — and they’re still interested in it — but now it’s crypto.” Barr’s standing in the hall outside the room where his staffer’s waiting with his constituents…ML: “Yeah?”AB: “Okay.” ML: “I know you gotta go.” AB: “See ya.” ML: “Thank you, sir.” Nicolae Viorel Butler contributed to this report.What should we ask lawmakers this week? Let us know! Content posted at AskaPolcrypto.com is copyrighted. Use our original content to move the story forward. And, please, link to us. Get full access to Ask a Pol crypto at www.askapolcrypto.com/subscribe
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