Back when Brian P. Brooks served as a financial regulator during the early Trump years, he often heard companies complain about being “cut off,” which, honestly, made him want to roll his eyes. These were mostly voices from sectors like private prisons and fracking firms, grumbling to Brooks, who was the acting chief of currency, about being shut out without notice. He essentially brushed them off, believing it wasn’t his responsibility to make banks engage with everyone—especially those he didn’t agree with.
Fast forward five years, and now Brooks is at the helm of a brokerage while also advising cryptocurrency firms. He’s become quite vocal about issues he perceives in the financial sector, having pressed Trump administration officials over the past six months to tackle these problems during discussions at Mar-a-Lago.
Brooks mentioned in an interview, “Utility companies may not like your face, but they can’t deny you service, and it’s the same with banking.”
Recently, the phrase “getting cut off” has been echoed by various groups, including conservatives, religious factions, and some Trump affiliates, all decrying what they claim is politically motivated discrimination by lenders. This concern is shared by cryptocurrency businesses facing challenges in opening standard bank accounts, along with lawmakers advocating for individuals and companies whose access to ATMs is suddenly revoked due to rigid regulations.
