The Steady Drip

Sen. Cramer to Newsmax: Banking Discrimination Must End (Connecting the Dots: The Banks & The Carnegie/Soros Network)

By Newsmax Wires | Friday, 16 October 2026 07:39 PM EDT

https://www.newsmax.com/newsmax-tv/kevin-cramer-banks-discrimination/2026/10/16/id/1273076/

Sen. Kevin Cramer, R-N.D., told Newsmax on Friday that a federal report exposed discriminatory practices at the nation's largest banks that have driven up financing costs for politically disfavored industries, including oil, natural gas, and coal.

Appearing on "Ed Henry: The Big Take," Cramer, a member of the Senate Banking Committee, discussed a report released Wednesday by the Office of the Comptroller of the Currency that found nine major banks had policies restricting access to financial services based on customers' political or religious beliefs or lawful business activities.

He placed the blame on the administrations of former Presidents Barack Obama and Joe Biden.

"So this report shines the light on really the perpetrators for the last couple of decades," Cramer said. "This is what they do when they can't directly affect your industry or maybe just ban your industry altogether.

"They attack it through the back door, through the financial institutions, which are heavily regulated."

He acknowledged that banks face pressure from multiple federal and state regulators, but suggested some institutions also sought acceptance among politically influential circles.

"They discriminate against these disfavored political entities," Cramer said.

Asked about the experiences of energy producers in North Dakota, he said restrictions on traditional bank financing have forced some businesses to seek more expensive alternatives.

"While they ultimately can get money, they have to get expensive money, right? So if you're not getting, you know, debt support from the banks, you're having to go out into the market for very expensive money," he said.

Cramer argued that higher financing costs ultimately affect consumers.

"If you're adding to the price of oil and gas and the price of electricity, you're adding the price to everything that's affected," he said.

Cramer called on Congress to pass his Fair Access to Banking Act, which he said has 47 co-sponsors, all Republicans, to prevent banks from discriminating against customers based on their political beliefs or lawful business activities.

He said the legislation is needed because changes in bank policies under President Donald Trump might not survive a future administration.

"You've seen the banks change a little bit because we have a new administration, but they'll go right back to their old ways when we have a different administration," Cramer said.

He also said the issue should transcend partisan divisions.

"If this kind of discrimination is good for conservatives, this kind of discrimination can be good for liberals as well," Cramer said.

Connecting the Dots:

Wes Moore worked as an investment banker at Deutsche Bank in Manhattan and at Citibank and served as the CEO for the Robin Hood Foundation.

Daniel S. Och is a director at the Robin Hood Foundation and was a trader for the Goldman Sachs Group Inc.

Peter D. Kiernan III was a senior partner at the Goldman Sachs Group Inc. and is a director at the Robin Hood Foundation.

David M. Solomon was a leadership council member for the Robin Hood Foundation, is a co-head of investment banking for the Goldman Sachs Group Inc. and a director at the Robin Hood Foundation.

Clifford S. Asness was a managing director for the Goldman Sachs Group Inc. and a leadership council member for the Robin Hood Foundation.

Lloyd C. Blankfein is the chairman & CEO for the Goldman Sachs Group Inc. and was a director at the Robin Hood Foundation.

Emma Bloomberg was the chief of staff for the Robin Hood Foundation and New York Mayor Michael R. Bloomberg’ daughter.

Michael R. Bloomberg is Emma Bloomberg’s father, was the New York Mayor and a donor for the Robin Hood Foundation.

Foundation to Promote Open Society was a funder for the Robin Hood Foundation and the Brookings Institution (think tank).

George Soros was the chairman for the Foundation to Promote Open Society.

Carnegie Corporation of New York was a funder for the Brookings Institution (think tank) and a supporter for the American Society for Muslim Advancement.

Andrew Carnegie was the founder of the Carnegie Corporation of New York.

John S. Chen was a trustee at the Brookings Institution (think tank) and is a director at Wells Fargo & Co. (Bailout Company).

Ann Dibble Jordan is an honorary trustee at the Brookings Institution (think tank), married to Vernon E. Jordan Jr. and was a director at Citigroup Inc. (Bailout Company).

Vickee Jordan Adams is Vernon E. Jordan Jr’s daughter and the VP at Wells Fargo Home Mortgage.

Wells Fargo Home Mortgage is a division of Wells Fargo & Co. (Bailout Company).

John S. Chen is a director at Wells Fargo & Co. (Bailout Company) and was a trustee at the Brookings Institution (think tank).

Vernon E. Jordan Jr. is married to Ann Dibble Jordan, Vickee Jordan Adams’s father, a Valerie B. Jarrett’s great uncle and an honorary trustee at the Brookings Institution (think tank).

Valerie B. Jarrett is Vernon E. Jordan Jr’s great niece, a member of the Commercial Club of Chicago and was the senior adviser for the Barack Obama administration.

Walter E. Massey is a member of the Commercial Club of Chicago and was the chairman for the Bank of America Corp. (Bailout Company).

R. Eden Martin is the president of the Commercial Club of Chicago and was counsel at Sidley Austin LLP.

Michelle Obama was a lawyer at Sidley Austin LLP.

Barack Obama was an intern at Sidley Austin LLP.

Newton N. Minow was a senior counsel at Sidley Austin LLP, a member of the Commercial Club of Chicago and an honorary trustee at the Carnegie Corporation of New York.

Carnegie Corporation of New York was a funder for the Brookings Institution (think tank) and a supporter for the American Society for Muslim Advancement.

Andrew Carnegie was the founder of the Carnegie Corporation of New York.

Foundation to Promote Open Society was a funder for the Brookings Institution (think tank).

George Soros was the chairman for the Foundation to Promote Open Society.

Cyrus F. Freidheim Jr. is an honorary trustee at the Brookings Institution (think tank) and a member of the Commercial Club of Chicago.

A.W. Clausen was an honorary trustee at the Brookings Institution (think tank) and the chairman & CEO for the Bank of America Corp. (Bailout Company).

Judith Rodin was an honorary trustee at the Brookings Institution (think tank) and is a director at Citigroup Inc. (Bailout Company).

Lawrence H. Summers was a trustee at the Brookings Institution (think tank), the National Economic Council chairman for the Barack Obama administration and is a consultant for Citigroup Inc. (Bailout Company).

Klaus Kleinfeld is a trustee at the Brookings Institution (think tank) and was a director at Citigroup Inc. (Bailout Company).

Paul M. Achleitner is a trustee at the Brookings Institution (think tank) and the chairman for the Deutsche Bank.

Dina Dublon is a supervisory board member for the Deutsche Bank and an overseer for the International Rescue Committee.

Foundation to Promote Open Society was a funder for the International Rescue Committee.

George Soros was the chairman for the Foundation to Promote Open Society.

Condoleezza Rice is an overseer at the International Rescue Committee.

Timothy F. Geithner is a director at the International Rescue Committee, was an overseer at the International Rescue Committee and the secretary for the U.S. Department of the Treasury for the Barack Obama administration.

Mona K. Sutphen is a director at the International Rescue Committee and was an assistant to the president and deputy chief of staff for the Barack Obama administration.

Harold E. Ford Jr. was an overseer at the International Rescue Committee and a senior policy adviser for the Bank of America Corp. (Bailout Company).

William T. Winters is a director at the International Rescue Committee and was the co-CEO JP Morgan Investment Bank for JPMorgan Chase & Co.

Gordon A. Smith is a director at the International Rescue Committee and the CEO, Chase card services for JPMorgan Chase & Co.

Foundation to Promote Open Society was a funder for the International Rescue Committee and the Robin Hood Foundation.

George Soros was the chairman for the Foundation to Promote Open Society and is the founder & chairman for the Open Society Foundations.

International Rescue Committee is a partner with the ONE Campaign.

Michael R. Bloomberg was an advocate for the ONE Campaign and a donor for the Robin Hood Foundation.

Wes Moore served as the CEO for the Robin Hood Foundation and worked as an investment banker at Deutsche Bank in Manhattan and at Citibank.

Morton H. Halperin is a director at the ONE Campaign, a senior adviser for the Soros Open Society Foundations, was a director at the Debt AIDS Trade Africa, a senior fellow at the Center for American Progress, served with the Carnegie Endowment for International Peace (think tank), and a senior fellow at the Brookings Institution (think tank).

Debt AIDS Trade Africa is a merged organization with the ONE Campaign.

Michelle Obama was an advocate for the ONE Campaign.

Open Society Foundations was a funder for the Center for American Progress and the Carnegie Endowment for International Peace (think tank).

George Soros is the founder & chairman for the Open Society Foundations, a friend of Michael Douglas and was a supporter for the Center for American Progress.

Foundation to Promote Open Society was a funder for the Center for American Progress, the Carnegie Endowment for International Peace (think tank) and the Brookings Institution (think tank).

Andrew Carnegie was the founder of the Carnegie Endowment for International Peace (think tank) and the founder of the Carnegie Corporation of New York.

Carnegie Corporation of New York was a funder for the Center for American Progress, the Carnegie Endowment for International Peace (think tank), the Nuclear Threat Initiative (think tank), the Brookings Institution (think tank) and a supporter for the American Society for Muslim Advancement.

Michael Douglas is a director at the Nuclear Threat Initiative (think tank) and a friend of George Soros.

Carnegie Endowment for International Peace (think tank) was a funder for the Nuclear Threat Initiative (think tank).

Warren E. Buffett is an adviser at the Nuclear Threat Initiative (think tank) and Howard G. Buffett & Susan A. Buffett’s father.

Howard G. Buffett is Warren E. Buffett’s son and a director at the ONE Campaign.

Susan A. Buffett is Warren E. Buffett’s daughter and a director at the ONE Campaign.

Michelle Obama was an advocate for the ONE Campaign.

Michael R. Bloomberg was an advocate for the ONE Campaign.

Lawrence H. Summers is a director at the ONE Campaign and was a trustee at the Brookings Institution (think tank).

Sheryl K. Sandberg is a director at the ONE Campaign and was a trustee at the Brookings Institution (think tank).

Ngozi Okonjo-Iweala is a director at the ONE Campaign and was a visiting fellow at the Brookings Institution (think tank).

Helene D. Gayle is a director at the ONE Campaign and a trustee at the Brookings Institution (think tank).