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flag Senate committee probes "debanking" practices, focusing on alleged political bias in banks' service denials.

flag The U.S. Senate Banking Committee is investigating "debanking," where banks cut off services to certain individuals and businesses, often conservative-leaning groups. flag This follows claims that major banks have denied services based on political reasons, though banks deny these accusations, citing complex rules and supervisory practices. flag Republican Senator Kevin Cramer plans to introduce legislation to prohibit banks from refusing services based on ideological grounds. flag The hearing also addresses the broader issue of access to banking services for low-income and marginalized groups.

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