Senate panel sends debanking bill to amendment order after testimony from account holders and bankers

Senate State Affairs on Friday voted to send Senate Bill 1027, the Idaho Transparency and Financial Services Act, to the 14th order for possible amendment after roughly 35 minutes of sponsor remarks, public testimony and questions from senators.

Sponsor Kelly Anthon, a senator from District 27, said the bill would require transparency from very large financial institutions when they close or restrict accounts and would bar debanking targeted at customers because of their religious or political views. "This bill ... gives Idahoans transparency and a right to information as to why, if this happens, their bank account is being closed," Anthon told the committee. He said the measure is limited to institutions processing about $100,000,000,000 per year and is not intended to apply to…