Why It Matters

Money Metals Exchange, a national precious metals dealer, has filed a new lobbying registration filing with Mindset Advocacy LLC to lobby on banking issues. The registration marks the company's first known federal lobbying effort, entering Washington at a moment when debanking, financial access for lawful businesses, and precious metals regulation are all active policy debates.

By the Numbers

The congressional lobbying disclosure, signed May 5, 2026, lists no filing amount, which is standard for new registrations. The firm retained four lobbyists from Mindset Advocacy LLC:

  • Becca Alcorn, who served as a policy adviser on the Senate Finance Committee
  • Scott Shewcraft, a former chief of staff to Rep. Bill Foster (D-IL) with an LLM degree in securities and financial regulation
  • Cassie Brzezinski, who held legislative roles for multiple Democratic members, including Sen. Chris Van Hollen (D-MD) and Rep. Carolyn B. Maloney (D-NY)
  • Brant Imperatore, a former counsel to the House Financial Services Committee

Mindset Advocacy LLC is an established firm with a financial services-heavy client roster. Its top clients over the past year have included Shell USA, Kroll Bond Rating Agency, Visa USA, Stripe, and Intuit, with individual client billings ranging from $10,000 to $360,000 annually.

The Agenda

The LDA filing 2026 lists a single issue area, banking, although the filing does not detail what aspects of banking policy Money Metals Exchange intends to address. Its lobbying appears focused on general banking policy advocacy rather than a specific piece of legislation.

Broader Context

The backdrop for this Money Metal lobbying push is a well-documented and politically charged debate over debanking, which is the practice of financial institutions restricting or denying services to certain lawful businesses. Money Metals Exchange has been vocal about this issue. The company's CEO, Stefan Gleason, has publicly stated that traditional banks refuse to work with precious metals businesses, saying such loans are "totally unavailable from traditional bankers who amazingly still view gold and silver with skepticism."

The company published a detailed piece in November 2025 titled "Debanking: When Your Bank Quietly Turns You Off", arguing that vague banking regulations are being used to restrict financial access for lawful businesses, including precious metals dealers.

Federal regulators have taken notice. The Office of the Comptroller of the Currency (OCC) released preliminary findings from a formal review of large banks' debanking practices, stating it "will hold banks accountable for these actions and ensure unlawful debanking does not continue." Executive Order 14331 formally defined "politicized or unlawful debanking" and directed the OCC to implement it through Bulletin 2025-22.

Between the Lines

Congressional interest in banking access for precious metals businesses has been growing. At an April 16, 2026 hearing before the House Agriculture Committee, members raised concerns directly tied to the precious metals industry. Rep. Greg Harris (R-NC) testified that approved metals depositories for gold and silver futures contracts are "heavily concentrated in the single geographic region around New York City," calling it a national security and market stability concern, and noting his support for the Silver Act. Rep. Glenn Thompson (R-PA-5) pressed the Commodity Futures Trading Commission (CFTC) Chairman Michael Selig on whether the agency would study whether that concentration poses systemic risk. That hearing took place less than three weeks before Money Metals Exchange signed its lobbying registration filing.

On the broader debanking front, the FIRM Act was introduced in the Senate in 2025, targeting the practice of denying banking services to lawful businesses. Members have also been active on related issues. Sen. Kevin Cramer (R-ND) promoted the Fair Access to Banking Act in August 2025, calling out "debanking activism." Sen. Cynthia Lummis (R-WY) has argued that community banks should embrace digital assets alongside traditional currency. Rep. Dan Meuser (R-PA-9) noted in November 2025 that the number of community banks has dropped from 5,300 in 2015 to 4,100, warning of reduced capital access for small businesses.

Competitive Landscape

The Mindset Advocacy LLC lobbyists bring experience working on financial services matters across a range of clients. The firm has represented Paxos Trust Co. LLC on stablecoin legislation, Regions Bank on general banking regulation, and Barclays US GPF Inc. on capital markets and interchange issues. Whether any of those clients' interests overlap or conflict with Money Metals Exchange's banking agenda is not specified in the disclosure.

The Bottom Line

Money Metals Exchange is a first-time entrant into federal lobbying, arriving when banking access for non-traditional financial businesses is drawing serious attention from regulators, the White House, and Congress. The team it has assembled has deep financial services and congressional experience. What specific outcomes the company is seeking remains to be seen.

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