Senate committee plans hearing on debanking, reveals witnesses [Video]

The Senate Banking Committee is planning to hold a hearing on financial institutions’ decisions to debank clients over various regulatory concerns and is urging those who have been affected to contact the committee to report their allegations.

“This hearing will provide an important opportunity to hear directly from Americans who operate federally legal businesses and have been debanked,” Chairman Tim Scott, R-S.C., said in a statement.

“It will also allow the Banking Committee, and the American public, to learn more about whether there was improper influence by financial regulators. Debanking is unacceptable and un-American – this hearing is the first step in our efforts to hold bad actors accountable,” Scott said.

The committee released an initial list of witnesses which includes Nathan McCauley, CEO and co-founder of Anchorage Digital; Evan Hafer, founder and executive chairman of Black Rifle Coffee Company; and Stephen Gannon, partner at Davis Wright Tremaine LLP.

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