OCC Plan Would Force Banks to Lend to Oil and Gun Companies (2)

A Wall Street regulator appointed by President Donald Trump wants to force banks to finance unpopular businesses the industry has been known to shun -- a list that includes oil companies, gun manufacturers and private prisons.

Acting Comptroller of the Currency Brian Brooks on Friday proposed a rule that would require banks to extend services and credit to any customers that pass their risk assessments. The move addresses a concern raised by Republicans that lenders including Citigroup Inc. and Bank of America Corp. have engaged in discrimination due to public pressure or their own distaste for certain industries.

“There is ...