I don't really have the ability to quote what is said directly without a MASSIVE self dox and opsec failure, but my Senator just got in touch with me.
He is a co-sponsor of S. 401. He's been working on this since 2013 ever since "Operation Choke Point" (which I do not remember mentioning to him) was written in such a way to target certain industries without first showing legal wrongdoing.
He mentioned in 2017 him and another Senator asking the DOJ to do a review of options to ensure small businesses are allowed to operate without fear of financial consequences, and to confirm that Operation Choke Point was being ended. He received confirmation that it was. Again I don't remember mentioning Operation Choke Point in my email (I used a form letter, slightly modified, from one of the early posts in the farms in this thread IIRC).
He mentions that large banks and financial institutions have continued to restrict certain industries for political reasons. He specifically mentions firearm and ammo industries. He doesn't mention the erotic video game and art industries, but well, that's politics for you.
Amusingly, he mentions the OCC issued a rule on January 14th 2021 to prevent institutions with more than $10 billion USD in assets from discriminating against businesses for ideological reasons. However, he mentions that Biden admin suspended this rule on Jan 28th, 2021. I believe this is the rule @Null mentions in one of his articles for ZeroHedge.
He confirms that now that Trump's appointees are positioned at the financial regulators, he will work with the Administration to reinstate the OCC's Fair Access rule. (Fair Access to Financial Services (OCC-2020-0042-0001), specifically.)
This OCC Fair Access rule may be better to aim for than S. 401, as it could be implemented TODAY if Trump and his team would get off t heir asses. But I'd leave that to
@Null to judge if that would even help the situation as it stands or which would be better.