Fair Access to Banking Act has not moved since its introduction on Feb 4, 2025, with cosponsors, all Republicans
Written by the Congressional Research Service [2]. 126 words.
Fair Access to Banking Act This bill places restrictions on certain banks, credit unions, and payment card networks if they refuse to do business with a person who complies with the law. Restrictions include prohibiting the use of electronic funds transfer systems and lending programs, termination of an institution's depository insurance, and specified civil penalties. Banks and other specified financial institutions are allowed to deny financial services to a person only if the denial is justified by a documented failure of that person to meet quantitative, impartial, risk-based standards established in advance by the institution. This justification may not be based upon reputational risks to the institution. The bill establishes the right for a person to bring a civil action for a violation of this bill.
- Committees
- Senate Banking, Housing, and Urban Affairs Committee
- Policy area
- Finance and Financial Sector: 53 of 3,256 bills became law, 113th–118th (1.6%)
- Sponsor
- 2 of 117 bills enacted since 2013
- Text versions
- 1: introduced in senate · 2,228 words
- Latest action
- Feb 4, 2025: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Records
- Congress.gov · Bill text
Each bill appears once, under its strongest link. 1 in all.
Related, per CRS or House · 1
- 119th H.R. 987 Fair Access to Banking Act R · Introduced